1 bedroom apartment for sale
Drovers Way, SG5 3EQ
Share percentage 40%, full price £210,000, £8,400 Min Deposit.
Share percentage 40%, full price £210,000, £8,400 Min Deposit.
Monthly Cost: £795
Rent £332,
Service charge £37,
Mortgage £426*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
- Priority will go to those who currently live and/or work in North Hertfordshire District Council
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You have a gross household income of no more than £80,000 per annum.
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You are unable to purchase a suitable home to meet your housing needs on the open market (100% ownership).
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You do not already own a home or you will have sold your current home before you purchase.
Summary
One-bedroom apartment now available!
Description
ONE 1-bedroom apartment is available through Shared Ownership resales. Register your interest today to find out more!
Well-presented one-bedroom, first-floor flat available through Shared Ownership Scheme. This home has a large, open-plan living space, a large cupboard for storage in the hallway, and is located 10 minutes outside of Hitchin, with excellent rural walks on the doorstep.
Local information
A lovely rural location, with commuting to nearby towns and even London being quick and easy. Bus links, or a 10-minute drive to Hitchin Train Station, which will get you to London King’s Cross in just 30 minutes, Stevenage in 5 minutes, and Cambridge in 40 minutes.
What is Shared Ownership?
With the Shared Ownership scheme, you can purchase a share in a property usually between 25% - 75%, and then pay rent on the remaining share of the property to the Landlord who can be a housing association or local council.
You can staircase which means purchasing further shares in the property, at the market value of the property at the time of staircasing until you own 100% of the property (subject to restrictions). As you purchase further shares in the property, the rent amount will decrease.
Due to Pirton being a Designated Protected Area, purchasers will only be to purchase 80% ownership of the properties.
Key Features
- Open-plan living
- Integrated appliances
- One allocated parking space
- Communal green space
- EPC Rating: B
- Great storage
- Lease length remaining: 121 (125 from 2019)
Particulars
Tenure: Leasehold
Lease Length: 121 years
Council Tax Band: B
Property Downloads
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 40%, full price £210,000, £8,400 Min Deposit. Calculated using a representative rate of 4.64%
