1 bedroom apartment for sale
Maritime House, Ocean Drive, Gillingham, ME7 1GS
Share percentage 30%, full price £175,000, £5,250 Min Deposit.
Share percentage 30%, full price £175,000, £5,250 Min Deposit.
Monthly Cost: £827
Rent £377,
Service charge £185,
Mortgage £265*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a One Bedroom Apartment on a Shared Ownership (Part Buy/Part Rent) Basis
Description
This smartly-presented apartment is on the second floor of a recently-constructed development very close to Gillingham Marina. The property has a twenty-two-foot reception room with wood flooring and an open-plan kitchen area featuring attractive units and integrated appliances. A glazed door leads out onto a south-east-facing balcony overlooking the communal garden. There is a spacious bedroom with built-in wardrobe, a stylish bathroom and a large hallway storage/utility cupboard. Well insulated walls, modern double glazing and a communal heating and hot water system all contribute towards a very good energy-efficiency rating. The apartment comes with a parking permit for use within the development. There is a supermarket just minutes away and Gillingham town centre and railway station are within reasonable walking distance or a brief cycle ride.
SHARED OWNERSHIP (Advertised price represents 30% share. Full market value £175,000).
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ https://tinyurl.com/3pbny6hk]
(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: Orbit.
Tenure: Leasehold (125 years from 01/10/2019).
Minimum Share: 30% (£52,500).
Shared Ownership Rent: £376.91 per month (subject to annual review).
Service Charge: £184.69 per month (subject to annual review).
Ground Rent: £160.00 for the year.
Guideline Minimum Income: Dual - £23,300 | Single - £28,300 (based on minimum share and 10% deposit).
Council Tax: Band C, Medway 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 £5,250
- Guide Min Income Dual £23.3k | Single £28.3k
- Second Floor (building has a lift)
- Approx. 502 Sqft Gross Internal Area
- Open Plan Kitchen/Reception Room
- Very Good Energy-Efficiency Rating
- South-East-Facing Balcony
- Permit Parking
Particulars
Tenure: Leasehold
Lease Length: 120 years
Council Tax Band: C
Property Downloads
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 30%, full price £175,000, £5,250 Min Deposit. Calculated using a representative rate of 4.59%