2 bedroom apartment for sale
38 Cherry Orchard Road, CR0 6BE
Share percentage 25%, full price £450,000, £5,625 Min Deposit.
Share percentage 25%, full price £450,000, £5,625 Min Deposit.
Monthly Cost: £1,598
Rent £773,
Service charge £198,
Mortgage £627*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
To be eligible for Shared Ownership you will need to meet certain requirements set by Homes England and the Greater London Authority (GLA). You could be eligible for Shared Ownership if:
You are at least 18 years old
You cannot afford to buy a home that suits your household’s needs on the open market
You have savings to cover a mortgage deposit and can obtain a mortgage
You are a first-time buyer
If you already own a home and need to move but cannot afford to – or you have equity from a recent sale – please contact us, as there are some circumstances under which you may still be eligible. In some cases, due to criteria set by local authorities, you may be asked to show a connection to the local area where you’re looking to buy. For instance, you might currently live and/or work there.
Maximum incomes and further eligibility requirements may vary for each scheme. Speak to a member of our sales team if you have any doubts. Before you purchase a Shared Ownership home, we will put you in touch with an independent mortgage advisor who will assess whether the purchase is affordable for you and take you through all your options.
Summary
Two Bedroom Upper Floor Apartment with Private Balcony
Description
HOME OF THE WEEK
WE WILL PAY YOUR RENT FOR 6 MONTHS, WORTH UP TO £5,000!*
Call our Sales Consultants today for further details. Terms & Conditions apply
From a little as £5,625** deposit, this amazing two bedroom apartment could be your next home.
Located on the 4th floor and circa 739sqft 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 integrated appliances, elegant bathroom suite and comfortable bedrooms space.
Crescent Gardens is all about Location Location Location!
East Croydon train station is around a 3 min walk with direct train to London Bridge in 15 mins.
The development is set back from the town centre which residents love as just around a 5 minute walk away you can enjoy all the hussle and bustle that Croydon town centre has to offer.
Each apartment has been finished with attention to detail from the open plan living area with fully fitted kitchen and tucked away appliances to the feature windows that allow the natural light to shine through. The finish throughout is a neutral palette, ready for you to add your touches when you call it home.
We have a range of apartments to offer through Shared Ownership and have a marketing suite open for you to come in and find out more. Call to book your appointment to view.
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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: £450,000
75% share value: £112,500
5% deposit: £5,625
Monthly Rent on un-owned share (25%) £773.44
Estimated Service Charge PCM: £197.69
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 , status and terms
Key Features
Stunning Two Bedroom apartment
Across the Road from East Croydon Station
Spacious Open plan Kitchen/ living room
Generous Incentives available
Ready for immediate occupation
Particulars
Tenure: Leasehold
Lease Length: 989 years
Council Tax Band: New build - Council tax band to be determined
Property Downloads
Floor Plan Energy CertificateMap
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 £450,000, £5,625 Min Deposit. Calculated using a representative rate of 5.03%
