1 bedroom apartment for sale
Felsted, Caldecotte, Milton Keynes, MK7 8FE
Share percentage 40%, full price £210,000, £8,400 Min Deposit.
Share percentage 40%, full price £210,000, £8,400 Min Deposit.
Monthly Cost: £1,042
Rent £296,
Service charge £322,
Mortgage £424*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a One Bedroom Flat on a Shared Ownership (Part Buy/Part Rent) Basis
Description
This spacious, raised-ground-floor property is part of a development of flats and houses in an attractive area surrounded by tree-lined streets and close to picturesque Caldecotte Lake. The twenty-one-foot, open-plan kitchen/reception room has an east-facing Juliette balcony. There is a second Juliette balcony in the bedroom, a good-sized bathroom and a built-in storage/utility cupboard has been provided in the entrance hallway. Well insulated walls and modern double glazing are good for energy efficiency and heating is paid for in the service charge, along with domestic water and electricity usage. The flat comes with use of a parking space and is also just a short walk from Bow Brickhill Station for services between Bedford and Bletchley with numerous onwards connections including trains to Milton Keynes Central and London Euston available from there.
SHARED OWNERSHIP (Advertised price represents 40% share. Full market value £210,000).
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ https://tinyurl.com/3uewm934]
(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)
Housing Association: Clarion.
Tenure: Leasehold (125 years from 23/06/2008).
Minimum Share: 40% (£84,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £296.11 per month (subject to annual review).
Service Charge: £322.13 per month (includes utility costs and is subject to annual review).
Ground Rent: £100.00 for the year.
Guideline Minimum Income: Dual - £26,600 | Single - £31,800 (based on minimum share and 10% deposit).
Council Tax: Band B, Milton Keynes City Council. Priority is given to applicants living and/or working in this local authority.
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals).
Key Features
- Guideline Minimum Deposit £8,400
- Guide Min Income Dual £26.6k | Single £31.8k
- Raised Ground Floor
- Approx. 610 Sqft Gross Internal Area
- Two Juliette Balconies
- Utilities Costs Included in Service Charge
- Parking Space
- Short Walk from Bow Brickhill Station
Particulars
Tenure: Leasehold
Lease Length: 109 years
Council Tax Band: B
Property Downloads
Key Information Document Floor Plan BrochureMap
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- Rent: This is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes).
- Service Charge: Covers maintenance and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 40%, full price £210,000, £8,400 Min Deposit. Calculated using a representative rate of 4.59%