Share Price £100,000 (from 50% Min. Share)

Full Value £200,000 | £5,000 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Warwickshire

place The Space, Tavistock Street, CV32 5PJ

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Optivo Resales

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Optivo are delighted to offer for sale this well-presented two bedroom second floor apartment in Leamington Spa.


Eligibility

You may be eligible for this property if:

You have a gross household income of no more than £80,000 per annum when eligible to purchase.
You are unable to purchase a suitable home to meet your housing needs on the open market.
You do not already own a home or you will have sold your current home before you purchase or rent.
To purchase this 50% minimum share you will need a minimum joint household income of £28,529 and available savings of £5,000 for a 5% mortgage deposit.


Description

The current market value is £200,000 for 100%. The minimum 50% share available is priced at £100,000, current rent payable ££277.42 pcm, rent is subject to annual reviews. Service charges are currently £150.40 pcm.

Viewings by appointment only. Please note Social Distancing measures need to be followed. Contact resales for the sellers details. resales@optivo.org.uk

If you would like to apply after you have conducted a viewing, a PDF writable application form can be saved from the Brochure Section on this advert.

Please email a fully completed copy to resales@optivo.org.uk

Application forms need to be returned to Optivo by 22nd March 2021

Please note though that if a high volume of applications is received, the deadline might be brought forward.

*Please note the successful applicant will be required to pay a £250 non-refundable reservation fee once offered the property.

Local information

Royal Leamington Spa is situated 3 Miles from Warwick, 10 Miles from Coventry and 25 Miles from Birmingham.

The Space is a development of apartments in this converted 1960’s built former office building.


Key Features

This two bedroom second floor apartment benefits from the communal entrance from Clarendon Avenue with stairs and lifts to the upper floors – secondary communal entrance is from Travistock Street.

Second Floor:-

Communal Landing to Private Entrance hall with cloaks cupboard and Boiler cupboard.

Open plan living room and kitchen 3.23m x 6.25m

Bedroom One 4.16m x 3.20m

Bedroom Two 4.16m x 2.52 with built in wardrobe

Bathroom with Bath, WC and wash hand basin.

Outside

There is a communal roof garden area.

Street parking around the property is time restricted.

Lease term- 110 years remaining

EPC rating 80C


Download Documents

Property brochure 1

Accessibility

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.


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Calculate Monthly Cost

Share price
£ 100,000
Min. £100,000
Share percentage
Min. 50%
Your deposit
Min. £5,000
Monthly cost*
£926
Cost breakdown
£278
Rent
£150
Service charge
£498
Mortgage*
Calculated using a representative rate of 3.94%
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Optivo 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.