2 bedroom apartment for sale
6 Escelie Way, Selly Oak, Birmingham, B29 6GX
Share percentage 25%, full price £200,000, £5,000 Min Deposit.
Share percentage 25%, full price £200,000, £5,000 Min Deposit
Monthly Cost: £694
Rent £366,
Service charge £76,
Mortgage £252*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a Two Bedroom Flat on a Shared Ownership (Part Buy/Part Rent) Basis
Description
This ground-floor flat is part of an attractive, recently-constructed development, built in the style of a traditional terrace. Entrance to the property is either via the communal hallway or via a front door directly into the living room. The open-plan kitchen area features sleek units, integrated appliances and gets plenty of natural light, thanks to a large, south-west-facing window. There is a main bedroom with en-suite shower room plus a very similar-sized second double bedroom and a simple yet stylish bathroom. Well insulated walls and floor, high performance glazing and a modern gas central heating system all contribute towards a very good energy-efficiency rating. To the rear of the block is a car park which includes a space allocated to this flat. Escelie Way is also just a short walk from Selly Oak Railway Station and the nearby shopping centre.
SHARED OWNERSHIP (Advertised price represents 25% share. Full market value £200,000).
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ https://tinyurl.com/5958t38k]
(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)
Housing Association: Clarion.
Tenure: Leasehold (125 years from 27/03/2020).
Minimum Share: 25% (£50,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £366.08 per month (subject to annual review).
Service Charge: £76.32 per month (subject to annual review).
Ground Rent: £300.00 for the year.
Guideline Minimum Income: Dual - £21,700 | Single - £23,000 (based on minimum share and 10% deposit).
Council Tax: Band B, Birmingham City Council. Priority is given to applicants living and/or working in this local authority.
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals) without prior written consent from the housing association.
Key Features
- Guideline Minimum Deposit £5,000
- Guide Min Income Dual £21.7k | Single £23k
- Ground Floor with Private Entrance
- Approx. 578 Sqft Gross Internal Area
- Open Plan Kitchen/Reception Room
- Bathroom plus En-Suite Shower Room
- Very Good Energy Efficiency Rating
- Parking Space
Particulars
Tenure: Leasehold
Lease Length: 119 years
Council Tax Band: B
Property Downloads
Key Information Document Floor Plan BrochureMap
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: No
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 25%, full price £200,000, £5,000 Min Deposit. Calculated using a representative rate of 4.59%
