2 bedroom apartment for sale
Colwyn Avenue, PE1 5RY
Share percentage 50%, full price £135,000, £3,375 Min Deposit.
Share percentage 50%, full price £135,000, £3,375 Min Deposit.
Monthly Cost: £620
Rent £170,
Service charge £65,
Mortgage £385*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
You may be eligible for this property if:
- You have a gross household income of no more than £80,000 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 Now! 2 bedroom ground floor apartment in Peterborough, available to purchase through the Shared Ownership Scheme
Description
This 2 bedroom ground floor apartment is situated in Peterborough and is available to purchase through the Shared Ownership scheme.
Full Market Value: £135,000
Share Available: 50%
Monthly Rent: £170.20
Monthly Service Charge: £65.11
Remaining Lease Term: 82 years
About the Property
As you enter the property you will be in the entrance hallway, with two built in cupboards on your right, and the main bathroom on your left. Down the hallway on the right is the spacious living room/kitchen, partially separated by a partition wall, and carpeting in the living room with flooring in the kitchen. The kitchen features an integrated oven with electric hobs and an overhead extractor fan. There is plenty of cupboard and counter space, with housing for a washing machine and space for a fridge-freezer. The living room features a lovely bay window space, perfect for a small dining table.
On the other side of the property are the two bedrooms, both excellent sizes and featuring carpeting. The main bedroom also benefits from a built in wardrobe and an ensuite bathroom, with a toilet, basin, and shower cubicle. The main bathroom features both bath and shower facilities.
Outside, there is a communal garden, and a communal car park.
About the Area
Peterborough is a cathedral city in Cambridgeshire, England, with a population of 183,631 in 2011. Historically part of Northamptonshire, it is 75 miles north of London, on the River Nene which flows into the North Sea 30 miles to the north-east. Rich in local amenities, there are open green spaces and fitness facilities, restaurants and take-outs, a shopping centre, arts and entertainment locations including a theatre and a museum, and more.
The railway station is an important stop on the East Coast Main Line between London and Edinburgh. The A1/A1(M) primary route (part of European route E15) broadly follows the path of the historic Great North Road from St Paul's Cathedral in the heart of London, through Peterborough (Junction 17), continuing north a further 335 miles to central Edinburgh.
Shared Ownership, how does it work?
If buying a home seems out of reach, Shared Ownership* could be the answer and offers a great alternative to renting. This property has a 50% share available to purchase, and you will pay a subsidised rent on the remaining share, as displayed above. In the future you can purchase further shares in your home** or sell your share and move on.
*Properties are offered as leasehold.
**Some properties are restricted to the level of share you can purchase.
Please note: Your home may be repossessed if you do not keep up repayments on your mortgage.
Key Features
- 50% Share Available
- 2 Bedrooms
- Communal Garden
- Communal Parking Area
- Excellent Location
- Great Local Amenities
- Electric Heaters
Particulars
Tenure: Leasehold
Lease Length: 82 years
Council Tax Band: B
Property Downloads
Key Information Document Floor Plan Energy CertificateVirtual Tour
Map
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 £135,000, £3,375 Min Deposit. Calculated using a representative rate of 5.26%
