2 bedroom apartment for sale
38 Cherry Orchard Road, CR0 6BE
Share percentage 25%, full price £440,000, £5,500 Min Deposit.
Share percentage 25%, full price £440,000, £5,500 Min Deposit.
Monthly Cost: £1,551
Rent £756,
Service charge £182,
Mortgage £613*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
You may be eligible for this property if:
You have a gross household income of no more than £90,000 per annum.
You are unable to purchase a suitable home to meet your housing needs on the open market.
You do not already own a home or you will have sold your current home before you purchase or rent.
Summary
Parking permits available for selected two bedroom apartments ****
Description
Kick-start your new year. Reserve your shared ownership home for just £25 in January. Offer end 25th January 2025
Up to £6,000 Deposit boost when you reserve one of these stunning apartments at Crescent Gardens * Speak to one of our onsite sales consultants for further details. Terms & Conditions apply
From a little as £5,500 deposit, this amazing two bedroom apartment could be your next home.
Located on the 3rd floor and circa 678sqft of living accommodation. which has been designed for modern living. Excellent open plan living spaces which have been carefully planned to maximise space opening out onto your very own private balcony. Stylish modern kitchen with a range of wall and base units and integrated appliances. Elegant bathroom suite and comfortable bedrooms space. This apartment has a long 990 year lease, ample storage space and is located very close to East Croydon railway station and Croydon tram link.
Crescent Gardens is a brand new development of high quality shared ownership apartment located in the heart of East Croydon and a stone’s throw away from East Croydon railway station provided frequent and speedy rail service to several Central London stations, Gatwick airport, via the Gatwick express and the South Coast. It’s also close to the beautiful countryside of Surrey and Kent making it the perfect place to put down roots in a home of your own.
Croydon is a highly sort after location due to its excellent shopping facilities, vibrant nightlife, its array of local restaurants and eateries and unrivalled transport facilities.
Why rent when you could buy:
If you compare the average rent in your area with the monthly cost of a shared ownership home you could be pleasantly surprised.
Financial Breakdown:
Full market value: £440,000
25% share value: £110,000
5% deposit: £5,500
Monthly Rent on un-owned share (25%) £756.25
Estimated Monthly Service Charge: £181.84
What is Shared Ownership?
If you can't afford the mortgage on 100% of a home, Shared Ownership offers you the chance to buy a share of your home (between 25% and 75%) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to and, if you chose, own the property outright. Monthly costs to purchase via Shared Ownership are generally less than purchasing outright or renting, making it a fantastic option to get onto the housing ladder.
*Please note images used in this listing are for illustration purposes and are not exact to the property.
** Subject to plot and status
**** Dependent on terms and availability
Key Features
Ready to move into immediately
Stunning Two Bedroom apartment
Moments from East Croydon station and Croydon Tram link
Private Balcony
Stylish fitted kitchen and Bathroom
Energy Efficient Homes
High Specifications throughout
Communal Roof Terrace
Particulars
Tenure: Leasehold
Lease Length: 989 years
Council Tax Band: New build - Council tax band to be determined
Property Downloads
Floor Plan Energy CertificateMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: No
Outside Space/Garden: n/a - Private Balcony
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
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 25%, full price £440,000, £5,500 Min Deposit. Calculated using a representative rate of 5.03%
