Share Price £115,000 (from 50% Min. Share)
Full Value £230,000 | £11,500 Min. Deposit
Scheme: Shared Ownership Resalescheck_circle Available now
2 bedroom apartment in Bishop's Stortford - Hertfordshire
place 45-47 South Street, CM23 3AG
A Fantastic Opportunity to Purchase a Two Bedroom Flat, on a Shared Ownership (Part Buy/Part Rent) Basis, through Clarion Housing
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:
Not own another property in the UK or any other country.
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.
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).
Be in full time permanent employment.
Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
Have a good credit history.
If you are still unsure about Shared Ownership or would like more information view[ Facts and Frequently Asked Questions]
SHARED OWNERSHIP(Advertised price represents 50% share. Full market value £230,000). This two-bedroom flat is in an extremely convenient location, right in the heart of Bishop's Stortford with a range of shops and other amenities nearby and the railway station just a few minutes walk away. The property available is on the second floor and rearward-facing. It has a 20' open-plan kitchen/reception room sleek, handle-less units and built-in oven and microwave. Both bedrooms are comfortable doubles and there is a spacious bathroom and useful hallway storage. Well insulated walls, modern double glazing and gas central heating make for very good energy-efficiency and environmental-impact ratings. There is a car park behind the building however this is shared with neighbouring blocks so a free space cannot be guaranteed.
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM[HERE; https://bit.ly/3kdTy7g]
(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.)
Tenure:Leasehold (125 years from 2005).
Minimum Share:50% (£115,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent:£208.32 per month (subject to annual review).
Service Charge:£90.31 per month (subject to annual review).
Guideline Minimum Income:Dual £23,000 | Single £27,900 (based on minimum share and 10% deposit)
Council Tax:Band C, East Hertfordshire District 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).
- Guideline Minimum Deposit £11,500
- Guideline Income Dual £23k | Single £27.9k
- Second Floor
- Approx. 671 Sqft Gross Internal Area
- Open-Plan Kitchen/Reception
- Double Glazing and Gas Central Heating
- Town Centre Location
- Short Walk from Railway Station
Download DocumentsLink to the floor plan Property brochure 1 Energy Certificate
F – General Needs
General needs housing does not meet any of the above criteria. Properties in this category will have more than four steps or a ramp access that is steeper than 1:10 to access the property front door. These properties should be marketed with the number of steps to access the property as this will provide an additional factor for helping people choosing what to bid for.