1 bedroom apartment for sale
Key information
Property description & features
- Tenure: Leasehold (92 years remaining)
- Modern shared ownership home
- Double bedroom
- Ground floor
- 92 year lease
- No onward chain
- Allocated parking
This superb modern home is available to buy from as little as £100,000 with a 50% share!
A beautifully presented ground floor apartment within this purpose built block located within easy reach of Letchworth High Street. Accommodation comprises entrance hall, double bedroom, modern bathroom and an open plan kitchen/reception room. Further benefits include an allocated parking space and a 92 year lease. There are no onward chain complications.
Letchworth Garden City is situated in North Hertfordshire, 38 miles from the heart of London and 29 miles from the centre of Cambridge. Letchworth is approximately 40 minutes drive from Luton Airport via the A505 and under an hour from Stansted Airport. This property is conveniently located within a 5 minute drive of the town centre and all its’ shops, cafes and amenities.
PRICING & AFFORDABILITY
Full Market Value: £200,000
50% Share Price: £100,000 (rent £265.47 pcm)
Minimum 5% Mortgage Deposit (50% share): £5,000
Approximate Service Charges: £87.53 pcm*
Shared Ownership Lease: approx. 92 years
Council Tax Band: B
ELIGIBILITY
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 £200,000 and a purchaser would not need to meet the eligibility criteria listed above.
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Property reference SDO240842. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by SOWN - National.
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Broadband availability and predicted speed: obtained from Ofcom on October 7, 2024
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Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on October 7, 2024
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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