1 bedroom apartment for sale
6 The Hollies, Stanley Street, NR32 2DF
Share percentage 50%, full price £55,000, £1,375 Min Deposit.
Share percentage 50%, full price £55,000, £1,375 Min Deposit.
Monthly Cost: £415
Rent £146,
Service charge £112,
Mortgage £157*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
Summary
The apartment is located on the first floor of a three-storey block of apartments.
Description
Accommodation
First Floor: Entrance Hall, Kitchen, Living Room, Bedroom, and a Bathroom/WC.
Improvements:
- New windows & doors
- New bathroom
- New radiators & old system removed.
- Air conditioning / ventilation system installed (extraction fan in bathroom)
External: Communal parking spaces and grounds.
Location
The property is located in an established mixed residential and commercial urban area, amongst properties of similar type and age, within proximity to all local amenities.
Key Features
Purchase Information
For Sale is a 50% share of the property for £55,000.00 with an additional monthly charge of £257.46 which includes Rent and Service Charge.
The Full Market Value of £55,000.00 does not consider the extensive improvements that have been undertaken in this property.
Therefore, the 50% share of £27,500.00 has an additional £10,000.00 to be added to cover the improvement value bringing the total payment required to £37,500.00.
Please take this into account with your finances as Mortgage Lenders will only loan on the market share valuation and not consider the improvements value. You will therefore require a large deposit of £10,000.00 plus any that your lender requires.
Additional Information
If you require any further information or wish to arrange a viewing, please contact Orbit Home Ownership Services using the details provided.
Particulars
Tenure: Not specified
Council Tax Band: A
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 £55,000, £1,375 Min Deposit. Calculated using a representative rate of 5.26%
