2 bedroom apartment for sale
Avenue Road, CT6 8TG
Share percentage 40%, full price £220,000, £8,800 Min Deposit.
Share percentage 40%, full price £220,000, £8,800 Min Deposit.
Monthly Cost: £1,066
Rent £390,
Service charge £229,
Mortgage £447*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Summary
Available through our resale shared ownership scheme, a ground floor, two-bedroom apartment in Herne Bay, Kent.
Description
The property comprises a private and wheelchair accessible entrance, open plan kitchen and reception, kitchen with integrated and standalone appliances, two bedrooms, two storage spaces, family bathroom with shower over bath.
The property also benefits from access to a communal garden and allocated parking.
Lease: Commenced 2019 with 999-year term
Council Tax Band: Canterbury Council - C
Gross Internal Area: 710sq.ft.
FINANCIAL INFORMATION
Property Value = £220,000
Percentage Share = 40%
Share Price = £88,000
Annual Ground rent = £250.00
*Monthly Rent = £390.19
*Monthly Service Charge = £229.37
**Monthly Mortgage Payment = £450.00
***Annual Household Income = £37,500
*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
• Located a stone’s throw next to the seafront, this property is perfectly placed for beachside walks and relaxing by the ocean.
• Herne Bay Town Centre is just a ten-minute walk away and has a variety of restaurants and cafés on offer. With two large supermarkets, grocery shopping is no problem.
• Nearby, Heron’s Bay Leisure centre is great for a swim or a workout. Other handy amenities include: a dentist, doctors’ surgery, post box, pharmacy, and various specialty shops.
• Herne Bay Memorial Park is excellent for strolls, dog walking, play and picnics.
• Herne Bay train station is under ten minutes away on foot and has regular trains to London and Ramsgate. Bus stops can be found just outside the property.
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: C
Property Downloads
Key Information Document 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 £220,000, £8,800 Min Deposit. Calculated using a representative rate of 4.64%
