2 bedroom apartment for sale

Available

Lanchester Way, New Cross, SE14 5HQ

£150,000 · Shared Ownership Resale

Share percentage 40%, full price £375,000, £15,000 Min Deposit.

Available
2 bedrooms
1 Bathroom
Private Balcony/Terrace
Pets allowed
Parking
£150,000 Shared Ownership Resale · Eligibility Eligibility

Share percentage 40%, full price £375,000, £15,000 Min Deposit.

Monthly Cost: £1,500
Rent £672, Service charge £67, Mortgage £761*

Calculated using a representative rate of 4.64%

Calculate estimated monthly costs

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Eligibility

You may be eligible for this property if:

  • You have a gross household income of no more than £90,000 per annum.
  • 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.
Summary

Available for resale shared ownership, a two-bedroom, ground floor apartment situated in a popular sought-after area of New Cross, London.

Description

The apartment comprises a secure private entrance, open plan kitchen/reception, fitted kitchen with inbuilt oven and hob, two bedrooms, master bedroom with un-suite, family bathroom with shower over bath and large built in storage cupboard

The property also benefits from access to a private rear patio and first come, first serve parking (permit required).

Length of Lease: Commenced 2017 with 125-year term

Council Tax Band: Lewisham Council - C

Gross Internal Area: 688m2

FINANCIAL INFORMATION

Property Value = £375,000

Percentage Share = 40%

Share Price = £150,000

*Monthly Rent = £614.44 (£672.20 from 1st April 2024)

*Monthly Service Charge = £81.63 (£67.05 from 1st April 2024)

**Monthly Mortgage Payment = £870

***Annual Household Income = £60,000

*Please note the rent and service charge is reviewed annually 01 April.

** Based on a 90%, 25-year repayment mortgage with an interest rate at 6%.

***Is based on a 10% mortgage deposit. If you have a higher deposit Hyde New Homes can discuss how the salary required is reduced.

Your home may be at risk if you do not keep up your mortgage and rent repayments. Particulars give an overall description of the property and are not intended to constitute an offer or form part of any contract. Areas, distances or measurements referred to are approximate. For confirmation of property details refer to the terms of the lease and plans from your solicitor. Hyde New Homes Resale properties are sold as seen, photographs and details (excluding financial information) are provided by the leaseholder. Please note that the Resales Team have not visited this property.

Key Features

• Plenty of music pubs in the area, Deptford market a short bus ride away.

• Very close to local amenities, with a couple of big supermarkets just around the corner.

• Within proximity to local schools including, Haberdashers and St James Hatcham with Goldsmiths College just up the road.

• Good commuting, bus routes around the corner include the 21, 53, 136, 171, 177, 343, 346 and night busses

• The East London Line at New Cross Gate and New Cross is a five-minute walk away.

Particulars

Tenure: Leasehold
Lease Length: 118 years
Council Tax Band: C

Property Downloads
Energy Certificate
Map
New Cross Gate (0.39 miles) Queens Road Peckham (0.40 miles) Nunhead (0.54 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 and repairs for communal areas within your development.
  • Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.

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

£150,000
Shared Ownership Resale
Estimated Monthly Cost:£1,500
Rent £672
Service Charge £67
Mortgage £761

Share percentage 40%, full price £375,000, £15,000 Min Deposit. Calculated using a representative rate of 4.64%


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.