2 bedroom apartment for sale
Flat 5, 1 Laelia Drive, MK11 4BT
Share percentage 50%, full price £270,000, £6,750 Min Deposit.
Share percentage 50%, full price £270,000, £6,750 Min Deposit.
Monthly Cost: £1,147
Rent £395,
Mortgage £752*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:
- Not own another property in the UK or any other country.
- Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
- Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
- Be in full time permanent employment.
- Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
- Have a good credit history.
Summary
2 bedroom apartment in Milton Keynes now available under Shared Ownership
Description
Pleasantly situated within this popular development on the west side of Milton Keynes, this two bed, two bathroom top floor apartment is offered for sale in great condition throughout. With sociable, open plan living, allocated parking and great schooling in the area, this home would make a fantastic first purchase and the ideal step onto the property ladder. The accommodation briefly consists of an open plan living space including a kitchen, lounge and dining area, two good-sized bedrooms, ensuite shower room to bedroom 1 and a three-piece suite white bathroom. Outside, there is one allocated parking space.
Please note that there is a £5,000 fixtures and fitting charge payable.
Fairfields is one of Milton Keynes City's newest estates, popular for its green areas and convenient access to the popular market town of Stony Stratford. The development of modern and contemporary homes has settled nicely in the city's landscape and has established itself as one of the most desirable areas to live in. The estate itself is home to a primary school, as well as a soon-to-be-built local shop and cafe. Fairfields is in an excellent school catchment area, with many of the nearby schools rated "outstanding" by Ofsted throughout the age groups. The A5 is only 2 miles away, and the A422 and A508 are both 2.6 miles away. The M1 motorway's Junction 14 is roughly 7 miles away, and Milton Keynes Central Railway Station is around 4 miles away.
*Information is correct to the best of our knowledge, please speak to the estate agent for more information*
Key Features
- Top floor apartment
- Open plan living
- Popular new build development
- Ensuite shower room
- Juliet balconies
- Great condition throughout
- Tenure: Leasehold (125 years from 17/05/2019).
- Share Available: 50%(£135,000).
- Shared Ownership Rent: £395.30 per month (subject to annual review).
- Lease Management Fee: £25.54 per month (subject to annual review).
- Council Tax: Band B, Milton Keynes Council
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: B
Property Downloads
Key Information Document Floor PlanMap
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 50%, full price £270,000, £6,750 Min Deposit. Calculated using a representative rate of 5.03%
