1 bedroom apartment for sale

Available

Derwent Foundry, 5 Mary Ann Street, B3 1BG

£95,000 · Shared Ownership Resale

Share percentage 50%, full price £190,000, £9,500 Min Deposit.

Available
1 bedroom
1 Bathroom
Floor plan
floor-plan
Floor plan
floor-plan
£95,000 Shared Ownership Resale

Share percentage 50%, full price £190,000, £9,500 Min Deposit.

Monthly Cost: £976
Rent £264, Service charge £269, Mortgage £443*

Calculated using a representative rate of 3.82%

Calculate estimated monthly costs

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Summary

A Fantastic Opportunity to Purchase a Large One Bedroom Flat, on a Shared Ownership (Part Buy/Part Rent) Basis, through Clarion Housing

Description

A chance to buy an attractive apartment within a fine example of Birmingham's industrial past. Derwent Foundry is a converted, Grade II listed building just a short walk from Snow Hill Station and within easy reach of the city centre. The property available is on the first floor and features an open-plan kitchen/reception room with a near-full-height, south-east-facing window. There is a large bedroom, a second room that could be used as a study or for the occasional guest, a bright, modern bathroom and a spacious entrance hallway with built-in storage/utility cupboard.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM https://tinyurl.com/ydtca3vy

(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.)

Housing Association:Clarion.
Tenure:Leasehold (125 years from 2006).
Minimum Share:50% (£95,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent:£263.55 per month (subject to annual review).
Service Charge:£269.12 per month (subject to annual review).
Ground Rent:Advised not charged to leaseholder.
Guideline Minimum Income:Dual £28,200 | Single £33,400 (based on minimum share and 10% deposit).
Council Tax:Band D, Birmingham City Council. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals). There is no parking space offered with this property.

Key Features
  • Guideline Minimum Deposit £9,500
  • Guideline Income Dual £28.2k | Single £33.4k
  • First Floor
  • Approx. 654 Sqft Gross Internal Area
  • Open-Plan Kitchen/Reception
  • Additional Study/Guest Room
  • Short Walk to Snow Hill Station
  • City Centre Within Easy Reach
Particulars

Tenure: Not specified
Council Tax Band: Not specified

Property Downloads
Floor Plan Brochure Energy Certificate
Map
Birmingham Snow Hill (0.16 miles) Birmingham New Street (0.52 miles) Jewellery Quarter (0.55 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.

£95,000
Shared Ownership Resale
Estimated Monthly Cost:£976
Rent £264
Service Charge £269
Mortgage £443

Share percentage 50%, full price £190,000, £9,500 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.