1 bedroom apartment for sale

Available

Prospect House, Sun Passage, SE16 4AF

£168,000 · Shared Ownership Resale

Share percentage 40%, full price £420,000, £16,800 Min Deposit.

Available
1 bedroom
1 Bathroom
Communal Garden
£168,000 Shared Ownership Resale

Share percentage 40%, full price £420,000, £16,800 Min Deposit.

Monthly Cost: £1,359
Rent £400, Service charge £176, Mortgage £783*

Calculated using a representative rate of 3.82%

Calculate estimated monthly costs

£
Summary

Available through our resale shared ownership scheme, a first floor, one-bedroom apartment situated in Southwark.

Description

The property comprises a communal entrance with phone entry system and lift access, open plan kitchen and reception, fitted kitchen with integrated appliances, double master bedroom, family bathroom with shower over bath, double glazing throughout and generous storage space.

The property also benefits from access to a balcony and permit parking.

Length of Lease: Approx. 111 Years

Council Tax Band: Southwark Council - D

Gross Internal Area: 50m2

FINANCIAL INFORMATION

Property Value = £420,000

Percentage Share = 40%

Share Price = £168,000

*Monthly Rent = £399.71

*Monthly Service Charge = £176.44

**Monthly Mortgage Payment = £840

***Annual Household Income = £52,000

*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 4.5%.

***Is based on a 10% mortgage deposit. If you have a higher deposit Hyde New Homes can discuss how the salary required is reduced (approximately every 5% extra deposit reduces the salary required by £1,200).

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.

Contact us now to arrange a viewing:

Please call the Sales Team on 0345 606 1221 and providethe following information:

Your Contact Number/Email

Your Hyde New Homes or Help to Buy reference number**

Your Deposit for the mortgage

If it is a Single/Joint application (if married it must be joint)

Your Current salary (single/Joint where applicable)

Do you have any children? If so, how many?

Do you own any pets? If so, what?

Are you a current homeowner?

**To obtain a Hyde New Homes Reference number, visit https://so.hydeform.co.uk/ to register and complete the online application. A reference number will be emailed to you once the application is completed.

Key Features

LOCAL AREA INFORMATION

  • Situated on the popular Bermondsey Spa development. A five-minute walk to Bermondsey Underground Station with direct services to Canary Wharf, Stratford and West London. Convenient bus services to many areas of London.
  • Within walking distance of the bustling Bermondsey Street, Maltby Street Market, Shad Thames, Brewery Wharf, Southwark Park. Easy access to a variety of shops, restaurants, bars and other amenities.
  • Within the catchment area for several outstanding schools.
Particulars

Tenure: Not specified
Council Tax Band: Not specified

Property Downloads
Energy Certificate
Map
Bermondsey (0.14 miles) Rotherhithe (0.68 miles) Canada Water (0.69 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.

£168,000
Shared Ownership Resale
Estimated Monthly Cost:£1,359
Rent £400
Service Charge £176
Mortgage £783

Share percentage 40%, full price £420,000, £16,800 Min Deposit. Calculated using a representative rate of 3.82%


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.