2 bedroom apartment for sale
Flat A, 32 Newton Street, MK42 0UQ
Share percentage 50%, full price £195,000, £4,875 Min Deposit.
Share percentage 50%, full price £195,000, £4,875 Min Deposit.
Monthly Cost: £1,017
Rent £257,
Service charge £204,
Mortgage £556*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:
- Not own another property in the UK or any other country.
- Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
- Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
- Be in full time permanent employment.
- Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
- Have a good credit history.
Summary
2-bedroom Shared Ownership resale available in Cheltenham
Description
This ground floor flat forms part of a recently built block and appears in excellent condition throughout. The property has a twenty three foot reception room with attractive flooring, an open plan kitchen and double doors that lead out to a balcony facing an area of lawn.
There is a generously sized main bedroom plus a second double bedroom, a pair of fitted storage/utility cupboards in the entrance hallway and a sleek bathroom featuring Bianco Carrara style tiles. Well insulated walls and floor, high performance glazing and a modern gas central heating system have resulted in a very good energy efficiency rating.
The flat comes with the use of two off-street parking spaces and Bedford town centre is only a ten minute drive away (Google Maps). The local roads also provide easy access to the A1 and M1, if travelling further afield.
*Information is correct to the best of our knowledge, please speak to the estate agent for more information*
Key Features
- Guideline Minimum Deposit £9,750
- Guide Minimum Income £28.4k Dual £34.7k Single
- Ground Floor
- Approx. 612 Sqft Gross Internal Area
- High Performance Glazing
- Open Plan Kitchen/Reception Room
- Balcony
- Two Parking Spaces
- Tenure:Leasehold (125 years less 6 days from 01/01/2020)
- Share Available:50% (£97,500)
- Shared Ownership Rent:£256.60 per month (subject to annual review)
- Service Charge:£204.38 per month (subject to annual review)
- Guideline Minimum Income:Dual - £28,400 | Single - £34,700 (based on minimum share and 10% deposit)
- Council Tax:Band B, Bedford Borough Council. Priority is given to applicants living and/or working in this local authority
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: B
Property Downloads
Key Information Document Floor PlanMap
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 £195,000, £4,875 Min Deposit. Calculated using a representative rate of 5.26%
