2 bedroom apartment for sale
251 Southwark Bridge Road, SE1 6FJ
Share percentage 25%, full price £710,000, £17,750 Min Deposit.
Share percentage 25%, full price £710,000, £17,750 Min Deposit.
Monthly Cost: £2,177
Rent £874,
Service charge £402,
Mortgage £901*
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 £90,000 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 5th floor, two-bedroom apartment in London.
Description
Property description:
This property features two bedrooms, a spacious living and dining area, and a modern kitchen with integrated appliances. The bedrooms include multiple storage spaces. There are two bathrooms, one ensuite with a bath, and another with a shower.
In addition, the building provides access to a range of amenities designed to enhance residents' lifestyles, including a gym, cinema room, and shared workspace and dining room.
Practical features include a communal entrance with wheelchair accessibility, an efficient entry system, and lift access to all floors.
Residents also benefit from access to a garden or courtyard.
Lease: Commenced 2018 with 999-year term
Council Tax Band: Southwark Council - E
Approx. Gross Internal Area: 765sq.ft.
FINANCIAL INFORMATION
Property Value = £710,000
Percentage Share = 25%
Share Price = £177,500
Monthly Ground Rent = £20.83
*Monthly Rent = £873.64
*Monthly Service Charge = £401.65
**Monthly Mortgage Payment = £907.00
***Annual Household Income = £88,000
*Please note the rent and service charge is reviewed annually 01 April.
** Based on a 90%, 30-year repayment mortgage with an interest rate at 5.5%.
***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
• The flat is conveniently located within walking distance from Central London i.e. a 30-minute walk to Covent Garden, Charing Cross.
• Located in Zone 1 with exceptional transport links. Transportation links include a two-minute walk to the Elephant & Castle Underground station (Northern Line and Bakerloo line), Elephant & Castle train station and a choice of bus stops. London Bridge train station is also 15 minutes away by foot.
• Other Underground stations within 15-20 minutes’ walk and include Waterloo, Lambeth North, Borough and Kennington.
• The London Cycle Superhighway 7 goes straight to the door and there are two Santander Cycle docking stations around the corner.
• The popular nearby food market Mercato Metropolitano is 2 minutes’ walk away and Borough Market is another 10 minutes further North with good grocery shopping options.
• The new Elephant Park development is within 5 minutes’ walk of property, boasting a large public park and many new bars and restaurants.
• Other spots within 5 a to 15-minute walk include Southwark Playhouse, Castle Centre, Newington Gardens, Tate Modern, Imperial War Museum and Geraldine Mary Harmsworth Park and sports facilities.
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: E
Property Downloads
Key Information Document 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 25%, full price £710,000, £17,750 Min Deposit. Calculated using a representative rate of 4.64%
