Share percentage 55%, full price £295,000, £8,113 Min Deposit.
Monthly Cost: £1,405
Rent £288,
Service charge £107,
Mortgage £1,010*
Calculated using a representative rate of 6.18%
Calculate estimated monthly costs
Summary
Available Now! 2 bedroom apartment in Cambridge, available to purchase through the Shared Ownership Scheme
Description
This two bedroom second floor flat is situated in Cambridge and is available to purchase through the Shared Ownership scheme.
Full Market Value: £295,000
Share Available: 55%
Monthly Rent: £288.33
Monthly Service Charge: £107.43
Remaining Lease Term: 90 years
About the Property
As you enter the property you will be in the entrance hallway with two built in storage cupboards to your left. To the right is the bathroom, which is a great size and features bath and shower facilities. The master bedroom is to the right and is spacious, with excellent natural light from the large window and glass door to the balcony. The second bedroom is in the middle and is also a good size, currently used as a home office. To your left is the spacious living/dining room, which features a second balcony. The kitchen is accessed via the living/dining room and is modern in style, with an integrated oven and extractor hood, and plenty of cupboard and counter space.
About the Area
Cambridge is a university city and the county town of Cambridgeshire, England, on the River Cam approximately 50 miles (80 km) north of London.
Cambridge boasts a brilliant public transport system, with a comprehensive bus service that connects you with the entirety of the City with bus stops frequently distributed. From these, you can pick up various frequent services that run to the centre, train stations and outlying areas.
Cambridge is home to the world-renowned University of Cambridge, which was founded in 1209. The university includes King's College Chapel, Cavendish Laboratory, and the Cambridge University Library, one of the largest legal deposit libraries in the world.
The city's skyline is dominated by several college buildings, along with the spire of the Our Lady and the English Martyrs Church, the chimney of Addenbrooke's Hospital and St John's College Chapel tower. Anglia Ruskin University, evolved from the Cambridge School of Art and the Cambridgeshire College of Arts and Technology, also has its main campus in the city. Addenbrooke's is one of the largest hospitals in the United Kingdom and is a designated regional trauma centre.
Shared Ownership, how does it work?
If buying a home seems out of reach, Shared Ownership* could be the answer and offers a great alternative to renting. This property has a 55% share available to purchase, and you will pay a subsidised rent on the remaining share, as displayed above. In the future you can purchase further shares in your home** or sell your share and move on.
*Properties are offered as leasehold.
**Some properties are restricted to the level of share you can purchase.
Please note: Your home may be repossessed if you do not keep up repayments on your mortgage.
All applicants will need to be approved by Help to Buy at their website.
Key Features
55% Share Available
2 Bedrooms
2 Balconies
Allocated Parking
Excellent Location
Under 4 miles to Central Cambridge
Great Local Amenities
Gas Central Heating
Particulars
Tenure: Leasehold
Lease Length: 90 years
Council Tax Band: C
Property Downloads
Key Information Document Floor Plan Brochure Energy CertificateMap
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- 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.
Share percentage 55%, full price £295,000, £8,113 Min Deposit. Calculated using a representative rate of 6.18%
