Share Price £56,000 (from 70% Min. Share)

Full Value £80,000 | £2,800 Min. Deposit

Scheme: Over 55's Shared Ownership

Under offer

2 bedroom apartment in Newcastle upon Tyne - Newcastle upon Tyne

place Bowes Court, South Gosforth, NE3 1SL

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This well maintained 2-bed first floor shared ownership apartment for those aged 55 and over is nestled in a quiet cul-de-sac in the popular South Gosforth, giving you all you need. Come take a look!


Eligibility

Applicants must be aged 55 or over.

Applicants must have sufficient funds to either purchase the 70% share outright, or to obtain a mortgage. Applicants must also have access to sufficient funds to cover the cost of buying.

If you will be purchasing with a mortgage you must provide us with an Agreement in Principle (AIP) to support your application. Evidence in support of your AIP (or proof of funds if cash buyers) must also be provided. Further details available on request.


Description

***Please quote BOW605 when enquiring.***

- Introduction -

Looking to downsize or for somewhere easier to manage? This well maintained 2-bed first floor shared ownership apartment for those aged 55 and over is nestled in a quiet cul-de-sac in the popular South Gosforth. With Newcastle centre and local conveniences close at hand, could this be the ideal home you’re looking for?

- What the owner says -

“The flat is in a small, quiet, enclosed area with easy access to the high street, metro station and local bus routes. Local shops are on your doorstep with only being 5 minutes’ walk. It has a very light feel to it, with a good size lounge, refurbished throughout, giving it a clean fresh look.”

- Full Description -

- 2-bed first floor flat.

- Living room has a fireplace and a window to the front aspect overlooking the landcsaped and the cul-de-sac.

- Kitchen with built-in units and contracting wood-effect worktops, a gas cooker/hob, stainless steel extractor fan and a window to the rear aspect.

- Master bedroom and second bedroom has a window to the rear and front aspect respectively.

- Bathroom with a bath, a separate walk-in shower, a wash hand basin WC, towel rail and mirrored wall cupboard.

- Carpet is fitted to stairs. Wooden flooring is laid to the hall, lounge and bedrooms. Tiles are laid to the kitchen and bathroom.

- Gas central heating

- Communal garden area

- Private allocated parking bay

- Costs -

PRICE - £56,000*

NO RENT PAYABLE

SERVICE CHARGE - £512.03pa**

*This represents a 70% share of the full open market value of £80,000

**This includes: management charge, service charge and building insurance. Rent and service charges are reviewed annually.

- Eligibility Requirements -

Applicants must be aged 55 or over.

Applicants must have sufficient funds to either purchase the 70% share outright, or to obtain a mortgage. Applicants must also have access to sufficient funds to cover the cost of buying.

If you will be purchasing with a mortgage you must provide us with an Agreement in Principle (AIP) to support your application. Evidence in support of your AIP (or proof of funds if cash buyers) must also be provided. Further details available on request.

- General Information -

Tenure: Leasehold

Lease: 60 years from 12th April 2002

Years remaining on lease: approx. 42

Approximate internal area: 49 sq. m.

Local Authority: Newcastle City Council

Council Tax Band: B

EPC Rating: C (76)

- Terms and Conditions -

***Current home owners must have a sale agreed to apply.***


- Viewings -

Applications are only accepted from those who have viewed the property. If you have viewed and would like to apply please register your interest with the Resales Team.


Key Features

  • *£56,000 for a 70% share available for aged 55 and over under the shared ownership scheme*
  • Viewing is highly recommended
  • No rent payable
  • Private allocated parking
  • Walking distance to public transport
  • Easy access to Gosforth High Street and Newcastle city centre

Download Documents

Energy Certificate
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Home Group Resales

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Location

Disclaimer

The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

  • 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 costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.


NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.