2 bedroom apartment for sale
Bramley Gardens, SL8 5FF
Share percentage 50%, full price £460,000, £11,500 Min Deposit.
Share percentage 50%, full price £460,000, £11,500 Min Deposit.
Monthly Cost: £2,352
Rent £592,
Service charge £479,
Mortgage £1,281*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £80,000
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
** This home can also be purchased outright (100% of the value) which is £460,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £230,000 with a 50% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £230,000 with a 50% share!
A rarely available two bedroom first floor coach-house maisonette situated in a private residential development close to Bourne End Village Centre. This immaculately presented property provides a fully fitted kitchen open plan with a bright living/dining space, two double bedrooms with built in wardrobes, two bathrooms, an enclosed private garden and a car port providing parking for two cars.
Bourne End is a picturesque village with a High Street providing many restaurants, cafes and amenities and a train station providing direct access to London and nearby towns. There are many wide open spaces and parks and the River Thames runs through the village.
PRICING & AFFORDABILITY
Full Market Value: £460,000
50% Share Price: £230,000 (rent £592.03pcm)
Minimum 5% Mortgage Deposit (50% share)
Approximate Service Charges: £479 every 6 months
Shared Ownership Lease: approx. 116 years
Council Tax Band: C
Key Features
Modern shared ownership home
Two double bedrooms
Parking for two cars
Open plan kitchen/living/dining room
Garden
No onward chain
Particulars
Tenure: Leasehold
Lease Length: 116 years
Council Tax Band: C
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: Yes
Outside Space/Garden: n/a - Private Garden
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 50%, full price £460,000, £11,500 Min Deposit. Calculated using a representative rate of 5.03%
