2 bedroom apartment for sale
Available
124 Commercial Road, BH2 5AT
£52,500 · Shared Ownership Resale

Share percentage 25%, full price £210,000, £5,250 Min Deposit.

Available
2 bedrooms
2 Bathrooms
Parking
Floor plan
floor-plan
Floor plan
floor-plan
£52,500 Shared Ownership Resale · Eligibility Eligibility

Share percentage 25%, full price £210,000, £5,250 Min Deposit.

Monthly Cost: £1,212
Rent £707, Service charge £279, Mortgage £226*

Calculated using a representative rate of 3.09%

Calculate estimated monthly costs

£
Eligibility

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]

Summary

A Fantastic Opportunity to Purchase a Two Bedroom Apartment on a Shared Ownership (Part Buy/Part Rent) Basis

Description

SHARED OWNERSHIP(Advertised price represents 25% share. Full market value £210,000). A very spacious apartment on the fifth floor featuring a reception room with six windows at one end and an open-plan kitchen at the other. The large main bedroom has the same multi-window arrangement plus a built-in wardrobe and generously-sized en-suite shower room. There is also a smaller, second double bedroom, a main bathroom and some fitted storage in the entrance hallway. The building has a lift, modern double glazing, well insulated walls and a brilliant town centre location. Bournemouth's well-tended public gardens are close by and the beach is only a short walk away. The apartment comes with use of a parking space.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM[HERE; https://bit.ly/3mKN4yc]

(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 2008).
Minimum Share:25% (£52,500).
Shared Ownership Rent:£707.21 per month (subject to annual review).
Combined Building Insurance/Admin Fee:£72.19 per month (subject to annual review).
Service Charge:£206.75 per month (subject to annual review).
Ground Rent:£204.97 for current year.
Guideline Minimum Income:Dual £38,000 | Single £43,200 (based on minimum share and 10% deposit).
Council Tax:Band C, Bournemouth, Christchurch & Poole 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.

Key Features
  • Guideline Minimum Deposit £5,250
  • Guideline Income Dual £38k | Single £43.2k
  • Fifth Floor
  • Approx. 1036 Sqft Gross Internal Area
  • Town Centre Location
  • Bathroom plus En-Suite Shower Room
  • Parking Space
  • Short Walk from the Beach
Property Downloads
Floor Plan Brochure Energy Certificate
Map
Hook (55.76 miles) Cobham & Stoke D'Abernon (77.03 miles) Heathrow Terminal 4 (80.63 miles)
Monthly Cost Calculator

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together, rent, service charge and mortgage.

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  • 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.

£52,500
Shared Ownership Resale
Estimated Monthly Cost:£1,212
Rent £707
Service Charge £279
Mortgage £226

Share percentage 25%, full price £210,000, £5,250 Min Deposit. Calculated using a representative rate of 3.09%


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.