£112,000

Purchase Information

For Sale is a 40% share of the property for £112,000.00 with an additional monthly charge of £459.41 which includes Rent, Service Charge, Insurance and Management Charge.

The Full Market Value of £280,000.00 does not consider the extensive improvements that have been undertaken in this property.

Therefore, the 40% share of £112,000.00 has an additional £15,000.00 to be added to cover the improvement value bringing the total payment required to £127,000.00.

Please take this into account with your finances as Mortgage Lenders will only loan on the market share valuation and not consider the improvements value. You will therefore require a large deposit of £15,000.00 plus any that your lender requires.

The share in this property is also listed with a local estate agent for £122,000.00, and the vendor won’t accept less than this.

Based on this price, you would need a deposit of £10,000, plus any additional amount required by your mortgage lender.

Additional Information

If you require any further information or wish to arrange a viewing, please contact Orbit Home Ownership Services using the details provided.

Buyers note: The freehold ownership of this property is currently owned by Orbit Group (the landlord) and is being considered for transfer to another Registered Provider. Like Orbit, the proposed new landlord is registered with the Regulator of Social Housing, so is governed by the same regulatory standards.

The terms and conditions of the tenancy are protected by the lease, and these will continue to apply to a new landlord, which includes how your rent may change in the future and any future purchase that you might wish to make. Like Orbit, the proposed future landlord can only change those terms in the ways set out in your lease agreement.

For further information on the proposed transfer, please contact Orbit Group’s Home Ownership team at: 0800 678 1221 and press the option for Home Ownership team.