1 bedroom apartment for sale

Available

Searle Crescent, CM1 7FN

£86,000 · Shared Ownership Resale

Share percentage 40%, full price £215,000, £4,300 Min Deposit.

Available
1 bedroom
Private Balcony/Terrace
Parking
£86,000 Shared Ownership Resale

Share percentage 40%, full price £215,000, £4,300 Min Deposit.

Monthly Cost: £868
Rent £326, Service charge £119, Mortgage £423*

Calculated using a representative rate of 3.82%

Calculate estimated monthly costs

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Summary

A well-presented modern apartment with open plan living, allocated parking, a private balcony and convenient access to Chelmsford City Centre.

Description

***Please quote SEA when enquiring.***

- Introduction -

A well-presented modern apartment with open plan living, allocated parking, a private balcony and convenient access to Chelmsford City Centre.

- What the owner says -

Beautifully designed modern apartment with open plan living set in a quiet suburban neighbourhood with communal events hosted by the residents. The city centre is a 10-minute drive away and there is public transport routes into town and other neighbouring towns/villages.

- Full description –

Shared ownership is a government backed scheme that can be a stepping stone to completely owning your own home. If you’re finding it difficult to save for a deposit this is a great option as the amount you’ll need is based on the share you’re buying. At this property a 5% deposit is within reach - just £4,300 for a 40% share!

- Costs –

PRICE - £86,000*

CURRENT CHARGES-

RENT - £326.16pm

SERVICE CHARGE - £119.26pm**

*This represents a 40% share of the full open market value of £215,000

**This includes: management charge, service charge and building insurance. Rent and service charges are reviewed annually.

- General Information -

Tenure: Leasehold

Lease: 125 years from and including 1 April 2018

Years remaining on lease: 121 approx.

Approximate internal area: 52 sq. m.

Local authority: Chelmsford City Council

Council tax band: B

EPC rating: B (84)

Ground rent: 150

- Terms, conditions and requirements -

Minimum household income requirement: £33,262.34^

Deposit: If you will be obtaining a mortgage you will need at least £4,300 in savings (i.e. a 5% deposit).

^If your deposit is more than 5%, the minimum income requirements may be less. Please contact us for further details.

Application process: A financial assessment must be completed before any physical viewing can take place. This forms part of Home Group’s buyer approval process. These assessments are carried out remotely by The Mortgage People. Once you have confirmed an interest in purchasing a property, the contact details will be made available.

We will not carry out any credit checks or contact any reference agencies without your written consent.

Help to Buy Agent: In order to apply you must be registered with Help to Buy South https://www.helptobuyagent3.org.uk/apply-page/. You will need to provide your HTB reference when completing the application process.

Current homeowners: Anyone who currently owns a home must have a sale agreed to apply.

Pets: Under The terms of the head lease permission would need to be sought from the freeholder to keep any animal bird or reptile


- Viewings -

Viewings are held strictly by appointment - call today for more information.

Only those who have physically viewed the property are able to apply. If you have viewed and would like to apply please register your interest with the Resales Team.

Key Features
  • £86,000 for a 40% share available under the shared ownership scheme
  • Only £4,300 for a 5% deposit!
  • Televisual entry system for security and peace of mind
  • Private balcony
  • Private off street parking bay
  • Easy access to Chelmsford City Centre and train station for commuters
  • You can purchase more shares up to 100% when the time is right for you
Particulars

Tenure: Not specified
Council Tax Band: Not specified

Property Downloads
Energy Certificate
Map
Chelmsford (2.63 miles) Hatfield Peverel (5.30 miles) White Notley (7.02 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.

£86,000
Shared Ownership Resale
Estimated Monthly Cost:£868
Rent £326
Service Charge £119
Mortgage £423

Share percentage 40%, full price £215,000, £4,300 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.