Floorplan
Map1 bedroom apartment
Premium display
Chain-free
Sold STC
Apartment
1 bed
1 bath
290
EPC rating: C
Key information
Tenure: Leasehold | 88 yrs left
Service charge: £60 per annum
Council tax: Ask agent
Broadband: Ultra-fast 1000Mbps *
Mobile signal:
EEO2ThreeVodafone
Features and description
- Available To Buy Outright Or On A Shared Ownership Basis
- Ground Floor
- 89 Year Lease
- Allocated Off-Street Parking
- Chain Free
- Communal Garden
- Excellent Transport Links
- Spacious Studio
- Modern
- South Facing APartment
We are delighted to offer for sale this spacious and modern studio apartment situated in a quiet residential cul-de-sac with easy access to local shops and excellent transport links close by.
This apartment is available to purchase outright at a full market value of £160,000 or on a part buy/part rent basis for an initial minimum share of 50% (£77,500) with only a £60 monthly service charge including ground rent and buildings insurance! There is also an affordable option to extend the lease if required. Please ask us for more information.
So what is Shared Ownership?
Shared Ownership is a government backed scheme which gives first time buyers and those that do not currently own another home the opportunity to purchase a share in a property. It is a great alternative route for buyers to step onto the property ladder with a much lower deposit than typically buying on the open market and with generally lower repayments than an outright mortgage. The overall monthly outgoings are also generally much lower than renting privately too!
How Shared Ownership Works...
The purchaser pays a monthly mortgage on the share that they own, and pays what is known as 'subsidised rent' to a housing association on the remaining share. Because the purchaser only needs a mortgage for the share they are purchasing, the amount of money required for a deposit is usually a lot lower when compared to the amount that would be required when purchasing a property outright making the scheme incredibly popular to first time buyers, couples and downsizers. Under exceptional circumstances, cash buyers can also be considered too!
The purchaser then has the option to increase their share over time via a process known as ‘staircasing’, and in this case they can staircase up to and including 100%. At this point, the shared owner will no longer pay subsidised rent, just their monthly mortgage along with a service charge.
Please get in touch with us today to find out more...
This apartment is available to purchase outright at a full market value of £160,000 or on a part buy/part rent basis for an initial minimum share of 50% (£77,500) with only a £60 monthly service charge including ground rent and buildings insurance! There is also an affordable option to extend the lease if required. Please ask us for more information.
So what is Shared Ownership?
Shared Ownership is a government backed scheme which gives first time buyers and those that do not currently own another home the opportunity to purchase a share in a property. It is a great alternative route for buyers to step onto the property ladder with a much lower deposit than typically buying on the open market and with generally lower repayments than an outright mortgage. The overall monthly outgoings are also generally much lower than renting privately too!
How Shared Ownership Works...
The purchaser pays a monthly mortgage on the share that they own, and pays what is known as 'subsidised rent' to a housing association on the remaining share. Because the purchaser only needs a mortgage for the share they are purchasing, the amount of money required for a deposit is usually a lot lower when compared to the amount that would be required when purchasing a property outright making the scheme incredibly popular to first time buyers, couples and downsizers. Under exceptional circumstances, cash buyers can also be considered too!
The purchaser then has the option to increase their share over time via a process known as ‘staircasing’, and in this case they can staircase up to and including 100%. At this point, the shared owner will no longer pay subsidised rent, just their monthly mortgage along with a service charge.
Please get in touch with us today to find out more...
Rooms
Disclaimer
haart Estate Agents also offer a professional, ARLA accredited Lettings and Management Service. If you are considering renting your property in order to purchase, are looking at buy to let or would like a free review of your current portfolio then please call the Lettings Branch Manager on the number shown above.
haart Estate Agents is the seller's agent for this property. Your conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. We make detailed enquiries of the seller to ensure the information provided is as accurate as possible. Please inform us if you become aware of any information being inaccurate.
About this agent
Here at haart, we are on a mission to get you moved. We have unique technology that gets your home hundreds more clicks, agents who listen and will negotiate hard on your behalf and you don’t pay us a penny until we succeed. Big Benefits. Being the UK’s largest independent estate agent, our size allows us to invest in the people and technology to get you moved, smart and fast and for more than you might think. No Sale, No Fee. We don’t think you should pay a penny to someone to sell or let your home, unless they actually do. So we don’t charge you until we have. As an agent we are members of the Property Ombudsman and the Association of Residential Letting Agents (ARLA) we adhere to a code of practice to ensure complete honesty and transparency in all our dealings with you.