1 bedroom apartment for sale
Merstham House, 3 Iron Railway Close, CR5 3LF
Share percentage 50%, full price £310,000, £7,750 Min Deposit.
Share percentage 50%, full price £310,000, £7,750 Min Deposit.
Monthly Cost: £1,546
Rent £523,
Service charge £140,
Mortgage £883*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
You may be eligible for this property if:
· Register your interest (pink button on the right)
· Have a passed initial financial assessment with one of the below companies:
SRC Mortgage Solutions (https://www.srcmortgagesolutions.com/)
TMP The Mortgage People (tmpmortgages.co.uk)
Mortgage Advice Bureau | UK’s leading mortgage intermediary (https://www.mortgageadvicebureau.com)
· You have a gross household income of no more than £90000 per annum when eligible to purchase.
· Live or work in the borough
· You are unable to purchase a suitable home to meet your housing needs on the open market. (Shares cannot be purchased in cash unless you are unable to obtain a mortgage due to age or religious grounds)
· You do not already own a home, or you will have sold your current home before you purchase or rent.
· To purchase this 50% minimum share you will need a minimum joint household income of £53570 and available savings of £7750 for a 5% mortgage deposit.
Summary
Southern Housing present to you this large one-bedroom flat
Description
This 1 bed property is ideal for a first-time buyer who wishes to move straight into a high-spec property.
There is a large open-plan kitchen & living room.
The bright, generously sized master bedroom benefits from large windows.
This property also has its own private balcony providing views of the courtyard, street parking, and is situated in the sought-after modern Cane Hill Estate.
The stunning development is surrounded by greenery.
For residents who have an electric car, there are electric charging points. Resident also have access to communal safe storage for bikes.
Accommodation:
Entrance hallway
Storage Cupboard
Open plan Kitchen & Lounge
Bedroom
Bathroom
Private balcony
Lease Term:125 years from 1st July 2018
EPC Rating: B
Council: Croydon
Council tax band: C
EPC Rating: B
floor size: 50msq
Viewings by appointment only. Please note Social Distancing measures need to be followed. Please contact resales via e-mail dionne.lester@southernhousing.org.uk or resales@southernhousing.org.uk for the vendors details.
Once you have viewed the property, if you wish to apply, application form attached to the viewing email, need to be returned to Southern Housing Asap
Please note though that if a high volume of applications is received, the deadline might be brought forward.
*Please note the successful applicant will be required to pay a £250 non-refundable reservation fee once offered the property.
Key Features
- Fitted kitchen
- Open plan, great for entertaining
- Short walking distance to shops and local amenities
- The A23 provides useful connections to both the M23 making Gatwick only 20 minutes away and M25 for good vehicular access.
- Coulsdon South Station 0.3 miles
- Coulsdon Town Station 0.3 miles
- Woodmansterne Station 0.6 miles
Particulars
Tenure: Leasehold
Lease Length: 120 years
Council Tax Band: C
Map
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 50%, full price £310,000, £7,750 Min Deposit. Calculated using a representative rate of 5.26%
