2 bedroom apartment for sale
Lynn Crescent, PO14 4FP
Share percentage 45%, full price £205,000, £9,225 Min Deposit.
Share percentage 45%, full price £205,000, £9,225 Min Deposit.
Monthly Cost: £918
Rent £261,
Service charge £189,
Mortgage £468*
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 £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 through our resale shared ownership scheme, a ground floor, two-bedroom apartment situated in Fareham.
Description
Property description:
The property comprises a private entrance, open plan dining and reception area, fitted kitchen with integrated appliances, two double bedroom, family bathroom with shower over bath, double glazing throughout and generous storage space.
The property also benefits from access to a well-maintained communal garden and two allocated off-street parking spaces.
Length of Lease: Commenced 2011 with 125-year term
Council Tax Band: Fareham - B
Gross Internal Area: 62m2
FINANCIAL INFORMATION
Property Value = £205,000
Percentage Share = 45%
Share Price = £92,250
*Monthly Rent = £260.64
*Monthly Service Charge = £188.65
**Monthly Mortgage Payment = £535.00
***Annual Household Income = £34,000
*Please note the rent and service charge is reviewed annually 01 April.
** Based on a 90%, 25-year repayment mortgage with an interest rate at 6%.
***Is based on a 10% mortgage deposit. If you have a higher deposit Hyde New Homes can discuss how the salary required is reduced.
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
· Situated within Tanners Gate development in the ever-popular location of Titchfield Common.
· Local shops and amenities of both Titchfield and Locks Heath are within easy reach.
· Transport links are easily access including A27 and M27 with Fareham and Swanwick stations being approximately 2 miles either side of the property.
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: B
Property Downloads
Floor Plan Price ListMap
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 45%, full price £205,000, £9,225 Min Deposit. Calculated using a representative rate of 4.64%
