2 bedroom apartment for sale
Park House, BN3 6AJ
Share percentage 30%, full price £450,000, £13,500 Min Deposit.
Share percentage 30%, full price £450,000, £13,500 Min Deposit.
Monthly Cost: £1,811
Rent £890,
Service charge £236,
Mortgage £685*
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 2nd floor, two-bedroom apartment in Hove.
Description
The property comprises a communal/wheelchair accessible entrance, entry system, lift access, open plan kitchen, living/dining area overlooking Hove Recreation Ground, two bedrooms, fitted wardrobes in both bedrooms, family bathroom with shower over bath, hallway storage cupboard and a private balcony.
The property also benefits from access to a communal garden and allocated parking.
Lease: Commenced 2015 with 125-year term
Council Tax Band: Brighton & Hove Council - D
Approx. Gross Internal Area: 753sq.ft.
FINANCIAL INFORMATION
Property Value = £450,000
Percentage Share = 30%
Share Price = £135,000
*Monthly Rent = £890.32
*Monthly Service Charge = £235.86 (Paid to Stuart Radley Associates)
**Monthly Mortgage Payment = £783.00
***Annual Household Income = £74,000
*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
· Much of the local area is easily accessible on foot or by bicycle. Brighton Beach, the Laines and Brighton Pavilion are all within 20 minutes by bicycle. Hove station is on the doorstep, Aldrington station is 10 minutes on foot and Portslade station 10 minutes by bicycle. A number of local amenities are also easily reached by car.
· Frequent rail services connect to Brighton, Burgess Hill, Gatwick, Eastbourne and London Victoria from Aldrington station and the A23/ M23 for London is just a short drive away.
· In the immediate orbit is Goldstone Retail Park where residents are catered for with an array of retail shops and restaurants, including a Lidl supermarket. Hove Park and Hove Recreation Ground is a great open space for walks and more vigorous exercise and Hove Beach is a mere 5 minutes by bicycle just south of Old Shoreham Road.
· En route to Hove Beach you can find George Street which provides a great mix of high street names, smaller independents, coffee shops and cafés. Further eastward from George Street you will find yourself in the heart of Brighton with its boutiques and big name stores, excellent eateries and destination shopping and fine dining at The Laines.
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: D
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 30%, full price £450,000, £13,500 Min Deposit. Calculated using a representative rate of 4.64%
