1 bedroom apartment for sale
Arbury Place, SG7 5FE
Share percentage 40%, full price £220,000, £4,400 Min Deposit.
Share percentage 40%, full price £220,000, £4,400 Min Deposit
Monthly Cost: £981
Rent £361,
Service charge £130,
Mortgage £490*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
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 £220,000 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 £88,000 with a 40% share!
Description
This beautiful apartment is located in Baldock, close Hitchin, Letchworth and Royston. The apartment provides light and spacious accommodation comprising entrance hall with built in storage, modern bathroom, double bedroom with built in wardrobes, and an open plan kitchen/living space. Outside, there is an allocated parking space and the property benefits from the balance of the 125 year lease.
Baldock is a historic market town in North Hertfordshire, England, situated approximately 33 miles north of London. There are direct train lines to London, Cambridge and Brighton.
The town boasts a variety of dining options, including Indian restaurants, as well as modern British cuisine at establishments. For shopping, Baldock provides a mix of high street stores, independent shops, and supermarkets.
Baldock is home to a small museum adjacent to the Arts and Heritage Centre at Baldock Town Hall, offering insights into the town's history. The town also hosts events such as beer and music festivals, contributing to its vibrant community atmosphere
PRICING & AFFORDABILITY
Full Market Value: £220,000
40% Share Price: £88,000 (rent £361.45pcm)
Minimum 5% Mortgage Deposit (% share): £4,400
Approximate Service Charges: £129.68 pcm*
Shared Ownership Lease: approx. 118 years
Council Tax Band: B
Key Features
Modern shared ownership apartment
Beautifully presented
Third floor
Double bedroom
Open plan kitchen/living space
Modern bathroom
Parking
Particulars
Tenure: Leasehold
Lease Length: 118 years
Council Tax Band: B
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 - Allocated
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 40%, full price £220,000, £4,400 Min Deposit. Calculated using a representative rate of 5.03%
