1 bedroom apartment for sale
17 Equality Road, B42 2ET, B42 2HD
Discount 30%, full price £163,200, £11,424 Min Deposit.
Discount 30%, full price £163,200, £11,424 Min Deposit.
Monthly Cost: £559
Mortgage £559*
Calculated using a representative rate of 4.28%
Calculate estimated monthly costs
The scheme allows first time buyers to purchase new build homes at 30% less than the market price. The houses are all built to the same specification as other homes in the same development, which are not on the scheme, and you have the same ownership rights as other home owners.
There are price caps in place, and the cost of the house after the discount must be £250,000 or less in England, of £420,000 in London.
Each local authority - in this case Birmingham City Council - will decide who is eligible. The criteria may differ depending on where you live.
As a rough guide:
• You must be a first-time buyer
• There will be restrictions on how much you can earn. Currently, for England this must not be more than £80,000 per annum, and for London it is £90,000.
• You must be able to pay a deposit of 5%
• You will need a mortgage, and this must be for at least 50% of the value
• Priority is often given to those who live locally and to key workers
• You must use the home as your only place of residence for as long as you own it
Summary
First Homes Scheme at Perry Barr Residential in Birmingham offering apartments starting from £114,240
Description
Perry Barr Residential is an exclusive development which offers 49 apartments under the First Homes scheme. First time buyers have the opportunity to purchase 1 or 2 bedroom apartments, all finished to the highest specification.
The area has benefited from major investment and regeneration, which has brought a choice of new housing, a world-class athletics Stadium with year-round community use, and significant infrastructure and public transport improvements, including a new railway station and bus interchange.
Perry Barr is now one of the city’s best-connected neighbourhoods with easy access to the city centre and all the facilities and entertainment it has to offer within easy reach. As a neighbourhood Perry Barr has lot to offer. Perry Barr Residential is just one mile from the Alexander Stadium, which hosted the Birmingham 2022 Commonwealth Games opening and closing ceremonies and, closer-by, there is a range of clubs and facilities, such as Doug Ellis leisure centre and Greyhound Stadium. For those who enjoy outdoor life,
Perry Barr has some of the best green spaces in the city with Perry Park and Perry Hall Park on its doorstep and connections to canal routes. As well as a range of high street stores, Perry Barr’s One Stop Shopping Centre has a wide ranging retail offer, including a major supermarket store.
Key Features
First Homes Scheme
One & Two bedroom apartments
Sold on a 30% discounted market value
For first time buyers only
Minimum of 5% deposit required to purchase*
All appliances integrated
No parking applicable
Rooftop communal terrace area
Particulars
Tenure: Leasehold
Lease Length: 250 years
Council Tax Band: Not specified
Property Downloads
Key Information Document Brochure Price ListMap
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 100%, full price £163,200, £11,424 Min Deposit. Calculated using a representative rate of 4.28%
Connells - West Midlands
