1 bedroom apartment for sale
Fieldfare Way, CM17 0GJ
Share percentage 50%, full price £230,000, £5,750 Min Deposit.
Share percentage 50%, full price £230,000, £5,750 Min Deposit
Monthly Cost: £1,111
Rent £311,
Service charge £159,
Mortgage £641*
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 £230,000 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 £115,000 with a 50% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £115,000 with a 50% share!
A one bedroom apartment situated on the first floor of this modern development built in 2019. The property provides a bright and spacious open plan kitchen/living space, good size double bedroom and a modern bathroom. There is allocated parking for one car and additional visitors parking and the remaining lease is 119 years.
This property is located in Harlow, Essex. Harlow Town Railway Station provides direct services to London (Liverpool Street) and other areas. There is also convenient access to the M11 motorway and the A414 as well as local bus services. There are various shopping amenities nearby offering a who range of shops, cafes and eateries.
PRICING & AFFORDABILITY
Full Market Value: £230,000
50% Share Price: £115,000 (rent £311.22pcm)
Minimum 5% Mortgage Deposit (50% share): £5,750
Approximate Service Charges: £159.29pcm*
Shared Ownership Lease: approx. 119 years
Lease management fee: £25.61pcm
Council Tax Band: B
Key Features
• Modern shared ownership home
• One bedroom
• First floor
• Open plan kitchen/living space
• Modern bathroom
• Allocated parking
• Long lease
Particulars
Tenure: Leasehold
Lease Length: 119 years
Council Tax Band: B
Property Downloads
Floor Plan Energy CertificateMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: n/a
Outside Space/Garden: n/a
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 £230,000, £5,750 Min Deposit. Calculated using a representative rate of 5.03%
