1 bedroom apartment for sale
Monroe House, 7 Lorne Close, London, NW8 7JN
Share percentage 30%, full price £490,000, £14,700 Min Deposit.
Share percentage 30%, full price £490,000, £14,700 Min Deposit.
Monthly Cost: £1,705
Rent £752,
Service charge £207,
Mortgage £746*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a One Bedroom Apartment, on a Shared Ownership Basis
Description
This flat is at entrance level but with a spacious, south-west-facing reception room and small balcony which are effectively first floor due the height difference across the site. The kitchen is separate from the reception, there is a bedroom with fitted wardrobe, a pair of storage/utility cupboards in the hallway and a simple, white-tiled shower room with walk-in cubicle. Monroe House is part of a gated development, just off Park Road. Regent's Park is minutes away, to the north is Lord's cricket ground and Baker Street Station is a short walk to the south.
SHARED OWNERSHIP (Advertised price represents 30% share. Full market value £490,000)
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [http://tinyurl.com/yu4kjkba]
(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)
Housing Association: A2Dominion.
Tenure: Leasehold (currently 99 years from 2001, extension to 990 years in progress).
Minimum Share: 30% (£147,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £752.37 per month (subject to annual review).
Service Charge: £207.18 per month (subject to annual review).
Guideline Minimum Income: Dual - £61,700 | Single - £68,800 (based on minimum share and 10% deposit).
Council Tax: Band E, City of Westminster Council.
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals). There is no parking space offered with this property. Permit parking within the development may be available.
Key Features
- Guideline Minimum Deposit £14,700
- Guide Min Income - Dual £60.7k Single £68.8k
- Ground Floor
- Approx. 498 Sqft Gross Internal Area
- Small, South-West-Facing Balcony
- Kitchen Separate from Reception Room
- Minutes from Regent's Park
- Short Walk to Baker Street Station
Particulars
Tenure: Leasehold
Lease Length: 967 years
Council Tax Band: E
Property Downloads
Floor Plan BrochureMap
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 30%, full price £490,000, £14,700 Min Deposit. Calculated using a representative rate of 4.64%
