2 bedroom apartment for sale
Royal Oak House, Doust Way, ME1 1FF
Share percentage 50%, full price £240,000, £12,000 Min Deposit.
Share percentage 50%, full price £240,000, £12,000 Min Deposit.
Monthly Cost: £974
Rent £252,
Service charge £116,
Mortgage £606*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
You may be eligible for this property if:
- You have a gross household income of no more than £80,000 per annum.
- You are unable to purchase a suitable home to meet your housing needs on the open market.
- You do not already own a home or you will have sold your current home before you purchase or rent.
Summary
Available through our resale shared ownership scheme, a 3rd floor, two-bedroom apartment in Rochester.
Description
Property description:
The property comprises a communal and wheelchair accessible entrance, entry system, lift access, open plan kitchen and reception, kitchen with electric cooker and oven, two good size bedrooms, ensuite, family bathroom with shower over bath, and hallway storage cupboard.
The property also benefits from a balcony, bike store and allocated parking.
Lease: Commenced 2013 with 125-year term
Council Tax Band: Medway Council - C
Approx. Gross Internal Area: 726sq.ft.
Prior to viewing: All applicants must be registered and approved by Hyde New Homes and may be required to carry out a shared ownership affordability assessment.
FINANCIAL INFORMATION
Property Value = £240,000
Percentage Share = 50%
Share Price = £120,000
Monthly Rent = £252.36
Monthly Service Charge = £115.79
Please note the rent and service charge is reviewed annually 01 April.
Your home may be at risk if you do not keep up your mortgage and rent repayments. Particulars give an overall description of the property and are not intended to constitute an offer or form part of any contract. Areas, distances or measurements referred to are approximate. For confirmation of property details refer to the terms of the lease and plans from your solicitor. Hyde New Homes Resale properties are sold as seen. Please note that the Resales Team have not visited this property.
Key Features
LOCAL AREA INFORMATION
· Walking distance to Rochester high street which offers plenty of pubs, restaurants, boutique shops, Castle and Cathedral.
· Nearby to Rochester train station which has links to London and Kent.
· Easy access to the motorway via the A2, M2 and M20, Chatham bus station is also local.
Particulars
Tenure: Leasehold
Lease Length: 114 years
Council Tax Band: C
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 50%, full price £240,000, £12,000 Min Deposit. Calculated using a representative rate of 4.59%
