1 bedroom apartment for sale
2 Lynde Lodge, Butterwick Way, AL6 9GN
Share percentage 40%, full price £300,000, £6,000 Min Deposit.
Share percentage 40%, full price £300,000, £6,000 Min Deposit.
Monthly Cost: £1,230
Rent £537,
Service charge £25,
Mortgage £668*
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
1 bedroom apartment in Welwyn now available through Shared Ownership
Description
Are you a first-time buyer who is looking for everything under one roof? Then this chain free property is the one for you! Located in an attractive development within Wilshere Park, this ground floor apartment has steps leading up to the front door of the block with a welcoming communal entrance.
An immaculately presented One Bedroom ground apartment, an ideal first time purchase this light and spacious apartment comprises of: Entrance Hall, lounge/diner with a balcony, kitchen, one-bedroom, large storage cupboard and a family bathroom. The apartment further benefits from gas central heating, resident parking, a secure door entry system and a lease of approx. 124 years.
*Information is correct to the best of our knowledge, please speak to the estate agent for more information*
Key Features
- One Bedroom Apartment
- Open Plan Living
- Allocated Parking
- 124 Years Left on Lease
- Tenure: Leasehold (125 years from 24/08/2024).
- Share Available: 40%(£120,000).
- Shared Ownership Rent: £537.40 per month (subject to annual review).
- Lease Management Fee: £25.61 per month (subject to annual review).
- Service Charge: £25.00 per month (subject to annual review).
- Council Tax: Band C, Welwyn Hatfield Council
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: C
Property Downloads
Key Information Document 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 £300,000, £6,000 Min Deposit. Calculated using a representative rate of 5.03%
