2 bedroom apartment for sale

SHARED OWNERSHIP (Advertised price represents 30% share. Full market value £475,000). An attractively-presented apartment on the fifth floor of a recently-constructed development just moments from the beach. The property has a twenty-one-foot reception room with wood flooring and open-plan kitchen area featuring stylish handle-less units and integrated appliances. A door leads out onto an east/south-east-facing balcony, the elevation affording a view of the sea and over the top of most of the neighbouring properties. There is a spacious main bedroom with en-suite shower room plus a second good-sized double bedroom, a high-spec bathroom and a pair of storage/utility cupboards in the entrance hallway. Well insulated walls, high performance glazing and a communal heating and hot water system have resulted in a very good energy-efficiency rating. A Co-op convenience store occupies the ground-floor retail unit, King Alfred Leisure Centre is opposite, nearby Church Road offers a fine selection of other shops and Hove Railway Station is within comfortable walking distance. The apartment comes with use of the communal cycle store.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ ]

(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 22/11/2021).
Minimum Share: 30% (£142,500). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £865.90 per month (subject to annual review).
Service Charge: £261.30 per month (subject to annual review).
Guideline Minimum Income: Dual - £65,400 | Single - £75,400 (based on minimum share and 10% deposit).
Council Tax: Band C, Brighton & Hove 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 without prior written permission (except assistance animals). There is no parking space offered with this property.

WHAT IS SHARED OWNERSHIP ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and Homes England outside of London.

IS SHARED OWNERSHIP FOR YOU ?

The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.