2 bedroom apartment for sale
Available
Watersmeet, Grove Road, SG4 0AW
£72,500 · Shared Ownership Resale

Share percentage 25%, full price £290,000, £7,250 Min Deposit.

Available
2 bedrooms
1 Bathroom
Parking
Floor plan
floor-plan
Floor plan
floor-plan
£72,500 Shared Ownership Resale · Eligibility Eligibility

Share percentage 25%, full price £290,000, £7,250 Min Deposit.

Monthly Cost: £998
Rent £576, Service charge £110, Mortgage £312*

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 fabulous duplex available on a Shared Ownership (Part Buy/Part Rent) Basis

Description

SHARED OWNERSHIP(Advertised price represents 25% share. Full market value £290,000). This very spacious modern apartment is arranged over the top two floors and features a 34' semi-open-plan reception/kitchen/dining room with south-west-facing french doors with Juliette balcony. On the upper level there is the bathroom plus two double bedrooms, the larger of which benefits from an additional balcony plus a bank of built-in wardrobes. There are highly-rated schools, both primary and secondary in the local area and the attractive town centre is within comfortable walking distance or brief cycle ride. Hitchin Railway Station provides services to a number of destinations including Cambridge and London Bridge/Kings Cross/St Pancras. If driving, the A1(M) is only seven minutes away (Google Maps) for convenient north/south travel. The property comes with a space in the underground car park.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM[HERE; https://bit.ly/2RhyfaS]

(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 (126 years less 5 days from 19/02/2008).
Minimum Share:25% (£72,500).
Shared Ownership Rent:£575.65 per month (subject to annual review).
Combined Service Charge and Admin Fee:£110.23 per month (subject to annual review).
Ground Rent:£300.00 for current year.
Guideline Minimum Income:Dual £30,000 | Single £35,200 (based on minimum share and 10% deposit).
Council Tax:Band C, North Hertfordshire District Council. Priority is given to applicants living and/or working in this local authority.

Key Features
  • Guideline Minimum Deposit £7,250
  • Guideline Income Dual £30k | Single £35.2k
  • Second and Third Floor
  • Approx. 1000 Sqft Gross Internal Area
  • Two Juliette Balconies
  • Semi-Open-Plan Kitchen/Reception
  • Parking Space
  • Hitchin Station Within Easy Reach
Property Downloads
Floor Plan Brochure Energy Certificate
Map
Radlett (19.05 miles) Crews Hill (20.15 miles) Hadley Wood (20.44 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.

£72,500
Shared Ownership Resale
Estimated Monthly Cost:£998
Rent £576
Service Charge £110
Mortgage £312

Share percentage 25%, full price £290,000, £7,250 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.