1 bedroom apartment for sale

Available

Orchard Court, 179 Sydenham Road, SE26 5GJ

£120,000 · Shared Ownership Resale

Share percentage 40%, full price £300,000, £12,000 Min Deposit.

Available
1 bedroom
1 Bathroom
Parking
Floor plan
floor-plan
Floor plan
floor-plan
£120,000 Shared Ownership Resale · Eligibility Eligibility

Share percentage 40%, full price £300,000, £12,000 Min Deposit.

Monthly Cost: £1,139
Rent £412, Service charge £118, Mortgage £609*

Calculated using a representative rate of 4.64%

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 £90,000 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 through our resale shared ownership scheme, a ground floor, one-bedroom apartment in London.

Description

Property description:

The property comprises a communal and wheelchair accessible entrance, entry system, open plan kitchen and living area, kitchen with standalone appliances, one bedroom, family bathroom with shower over bath and loft space and internal storage cupboards.

The property also benefits from allocated parking.

Lease: Commenced 2003 with 125-year term

Council Tax Band: Lewisham Council - B

Gross Internal Area: 495.1sq.ft.

FINANCIAL INFORMATION
Property Value = £300,000
Percentage Share = 40%
Share Price = £120,000
*Monthly Rent = £411.92 (From April 01 £437.87)
*Monthly Service Charge = £117.89 (From April 01 £186.92)
**Monthly Mortgage Payment = £613.00
***Annual Household Income = £44,000

*Please note the rent and service charge is reviewed annually 01 April.
** Based on a 90%, 30-year repayment mortgage with an interest rate at 5.5%.

***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 an 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.

Key Features

LOCAL AREA INFORMATION

· Walking distance to Sydenham station, direct services to London.

· Close to primary and secondary schools.

· Nearby Crystal Palace Park and Mayow park.

· Close by restaurants, bars and local amenities.

Particulars

Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: Not specified

Property Downloads
Floor Plan Energy Certificate
Map
Lower Sydenham (0.47 miles) Sydenham (0.49 miles) Penge East (0.58 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 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.

£120,000
Shared Ownership Resale
Estimated Monthly Cost:£1,139
Rent £412
Service Charge £118
Mortgage £609

Share percentage 40%, full price £300,000, £12,000 Min Deposit. Calculated using a representative rate of 4.64%


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.