2 bedroom apartment for sale

Available

1 Bensham Lane, Croydon, CR0 2RU

£120,000 · Shared Ownership Resale

Share percentage 40%, full price £300,000, £12,000 Min Deposit.

Available
2 bedrooms
2 Bathrooms
Private Balcony/Terrace
Parking
Floor plan
floor-plan
Floor plan
floor-plan
£120,000 Shared Ownership Resale

Share percentage 40%, full price £300,000, £12,000 Min Deposit.

Monthly Cost: £1,318
Rent £579, Service charge £130, Mortgage £609*

Calculated using a representative rate of 4.64%

Calculate estimated monthly costs

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Summary

A Fantastic Opportunity to Purchase a Two Bedroom Apartment on a Shared Ownership (Part Buy/Part Rent) Basis

Description

This immaculately-presented apartment is on the first floor and features a twenty-nine foot reception room with balcony and sleek open-plan kitchen area. There is a large main bedroom with fitted wardrobe and en-suite shower room plus a second bedroom which is also a comfortable double. The entrance hall provides useful, built-in, storage space along with access to the simple yet stylish bathroom. Demanding insulation standards, high performance glazing and gas central heating help to achieve an excellent energy-efficiency rating. The property comes with use of an allocated space within the gated car park. There are shops on London Road plus many more at the nearby Whitgift and Centrale Shopping Centres. West Croydon Station is just a short walk away and East Croydon is also within easy reach.

SHARED OWNERSHIP (Advertised price represents 40% share. No Chain. Full market value £300,000).

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [HERE; http://tinyurl.com/muhxptc2]

(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: Clarion.
Tenure: Leasehold (125 years from 2015).
Minimum Share: 40% (£120,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £578.75 per month (subject to annual review).
Service Charge: £129.80 per month (subject to annual review).
Ground Rent: £250.00 for the year.
Guideline Minimum Income: Dual - £43,500 | Single - £49,800 (based on minimum share and 10% deposit).
Council Tax: Band D, London Borough of Croydon. Priority is given to applicants living and/or working in this local authority.

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).

Key Features
  • Guideline Minimum Deposit £12,000
  • Guide Min Income - Dual £43.5k Single £49.8k
  • First Floor (building has a lift)
  • Approx. 776 Sqft Gross Internal Area
  • High Performance Glazing
  • Bathroom plus En-Suite Shower Room
  • Balcony
  • Parking Space
Particulars

Tenure: Leasehold
Lease Length: 116 years
Council Tax Band: D

Property Downloads
Key Information Document Floor Plan Brochure
Map
West Croydon (0.49 miles) Selhurst (0.86 miles) East Croydon (0.91 miles)
Monthly Cost Calculator

The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.

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  • 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.

£120,000
Shared Ownership Resale
Estimated Monthly Cost:£1,318
Rent £579
Service Charge £130
Mortgage £609

Share percentage 40%, full price £300,000, £12,000 Min Deposit. Calculated using a representative rate of 4.64%


Disclaimer
The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.