2 bedroom apartment for sale
Monroe House, 7 Lorne Close, London, NW8 7JN
Share percentage 35%, full price £650,000, £45,500 Min Deposit.
Share percentage 35%, full price £650,000, £45,500 Min Deposit.
Monthly Cost: £2,243
Rent £1,051,
Service charge £207,
Mortgage £985*
Calculated using a representative rate of 4.24%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a Two Bedroom Apartment on a Shared Ownership (Part Buy/Part Rent) Basis
Description
A rare opportunity to buy a shared ownership property in such an enviable location. Regent's Park is just minutes away, to the north is Lord's cricket ground and Baker Street Station is a short walk to the south. The property is on the third floor (building has a lift) within a gated development. There is a dual-aspect reception room with small, south-east-facing balcony, a stylish, modern bathroom and a kitchen that features sleek, handle-less units. Both bedrooms are comfortable doubles and include a fitted wardrobe. Well insulated walls, double glazing and gas central-heating make for a good energy-efficiency rating. Underground car parking space available, if required.
SHARED OWNERSHIP (Advertised price represents 35% share. Full market value £650,000).
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [https://bit.ly/3gqT9ht]
(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)
Housing Association: A2Dominion.
Tenure: Leasehold (125 years from 2001).
Minimum Share: 35% (£227,500).
Shared Ownership Rent: £1051.13 per month (subject to annual review).
Service Charge: £207.18 per month (subject to annual review).
Guideline Minimum Income: Dual £84,400 (based on minimum share and 20% deposit) | Single £87,500 (based on minimum share and 35% deposit).
Council Tax: Band F, City of Westminster.
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals). The current owner rents a parking space for £27.65 per month and use of this space could be transferred to the new owner.
Key Features
- Guide Deposit Dual £45,500 | Single £79,625
- Guide Minimum Income £84,400 | Dual £87,500 Single
- Third Floor with Balcony
- Approx. 710 Sqft Gross Internal Area
- Dual Aspect Reception Room
- Off-Street Permit Parking
- Minutes from Regent's Park
- Short Walk to Baker Street Station
Particulars
Tenure: Leasehold
Lease Length: 102 years
Council Tax Band: F
Property Downloads
Floor Plan BrochureMap
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 35%, full price £650,000, £45,500 Min Deposit. Calculated using a representative rate of 4.24%
