2 bedroom apartment for sale

Under Offer

Basset Mews, Ardnave Crescent, SO16 7NW

£78,750 · Shared Ownership Resale

Share percentage 45%, full price £175,000, £7,875 Min Deposit.

Under Offer
2 bedrooms
Floor plan
floor-plan
Floor plan
floor-plan
£78,750 Shared Ownership Resale · Eligibility Eligibility

Share percentage 45%, full price £175,000, £7,875 Min Deposit.

Monthly Cost: £718
Rent £286, Service charge £65, Mortgage £367*

Calculated using a representative rate of 3.82%

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 £80,000 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 beautifully presented two-bedroom, ground floor apartment with private entrance.

Description

This bright apartment offers an open plan living room and dining area and separate kitchen with a mix of integrated and stand-alone appliances along with one double bedroom, one single bedroom and family bathroom, with shower over bath. The property compromises of a private entrance, floor large windows throughout the property and patio doors leading to the communal garden. The exterior of the apartment has recently been re-cladded. This apartment also benefits from large hallway storage space and parking around the development.

Length of Lease: Approx. 82 Years

Council Tax Band: Southampton City Council - C

Gross Internal Area: 60m2

FINANCIAL INFORMATION

Property Value = £175,000

Percentage Share = 45%

Share Price = £78,750

*Monthly Rent = £286.03

*Monthly Service Charge = £65.02

**Monthly Mortgage Payment = £394

***Annual Household Income = £25,000

*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 a fair 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

  • Close proximity to Southampton common, Southampton Sports Centre and Southampton Municipal Golf Course.
  • A selection of schools near by for those with children, also close to the University of Southampton.
  • Plenty of reliable public transport is also a feature, to take you to the nearby grocery shops, cafes, banks and more.
Particulars

Tenure: Not specified
Council Tax Band: Not specified

Property Downloads
Floor Plan Energy Certificate
Map
Swaythling (1.26 miles) St Denys (1.68 miles) Southampton Airport Parkway (1.88 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.

£78,750
Shared Ownership Resale
Estimated Monthly Cost:£718
Rent £286
Service Charge £65
Mortgage £367

Share percentage 45%, full price £175,000, £7,875 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.