2 bedroom apartment for sale
113 Reaston Street, New Cross, SE14 5BB
Share percentage 40%, full price £400,000, £16,000 Min Deposit.
Share percentage 40%, full price £400,000, £16,000 Min Deposit.
Monthly Cost: £1,430
Rent £418,
Service charge £200,
Mortgage £812*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
You may be eligible for this property if:
- You have a gross household income of no more than £90,000 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 through our resale shared ownership scheme, a first floor, two-bedroom apartment in New Cross, London.
Description
The property comprises a communal entrance with entry system, open plan kitchen and reception, kitchen with integrated appliances, Juliette balcony, two bedrooms, ensuite, family bathroom with shower over bath and hallway storage cupboard.
The property also benefits from a recently fitted boiler and access to a communal garden. Permit parking available.
Lease: Commenced 2011 with 125-year term
Council Tax Band: Lewisham Council - C
Gross Internal Area: 651sq.ft.
FINANCIAL INFORMATION
Property Value = £400,000
Percentage Share = 40%
Share Price = £160,000
*Monthly Rent = £418.49
*Monthly Service Charge = £199.71
**Monthly Mortgage Payment = £818.00
***Annual Household Income = £52,000
*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
- A selection of Good and Outstanding primary schools are available within walking distance, and there’s a choice of secondary schools nearby.
- You’ll be spoilt for choice with countless pubs and cosy cafes, trendy nightclubs, and restaurants in the area. There’s a large Sainsbury’s and Lidl nearby to take care of everyday essentials, and dozens of independent boutiques for more exciting purchases. Or explore the shopping centre and treat yourself at Surrey Quays.
- For entertainment head to the Amersham Arms and catch performances by up-and-coming musicians, DJs, and comedians. There are cinemas within 1½ miles at Surrey Quays, Peckham Rye, and Rotherhithe. If you prefer live theatre the London Theatre at New Cross is a leading light amongst the capital’s fringe theatres.
- Simply relax in Eckington Garden, where there are lawns, shrubs, and a water feature - or make the most of the park’s ball court and multisports centre. Or explore many of the other open spaces and parks within walking distance.
- Great road links with the A2 on the doorstep and between 30 & 40 buses serving the area every hour, with Greenwich less than 20 minutes to the east and Central London just 30 minutes to the west. The London Overground from New Cross Gate runs north to Islington, via Surrey Quays, Canada Water, Rotherhithe and Wapping, Hoxton and Dalston Junction, and heads south to Crystal Palace and West Croydon. Links with the London underground can easily be made at Canada Water.
- There are two railway stations – New Cross Gate and Queens Road Peckham which, between them, provide services to London Bridge, Charing Cross, and Clapham Junction providing links across London.
- The mainline rail services from New Cross run north to Cannon Street and Charing Cross and south-east to Lewisham, Bexleyheath, and Dartford. From New Cross Gate, trains run north to London Bridge and south to London Victoria, East Croydon, Gatwick Airport, Surrey and Sussex.
Particulars
Tenure: Leasehold
Lease Length: 113 years
Council Tax Band: C
Property Downloads
Floor Plan 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 £400,000, £16,000 Min Deposit. Calculated using a representative rate of 4.64%
