Share percentage 50%, full price £185,000, £4,625 Min Deposit.
Share percentage 50%, full price £185,000, £4,625 Min Deposit.
Monthly Cost: £738
Rent £201,
Service charge £76,
Mortgage £461*
Calculated using a representative rate of 3.94%
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 when eligible to purchase.
- 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.
- To purchase this 50% minimum share you will need a minimum joint household income of £27,775 - £29,688 and available savings of £4,625 for a 5% mortgage deposit (ESTIMATED)
Summary
Optivo are delighted to offer for sale this well-presented two bedroom flat on the ground floor
Description
The current market value is £185,000 for 100%. The minimum 50% share available is priced at £92,500, current rent payable £201.23 pcm, rent is subject to annual reviews. Service charges are currently £76.24 pcm.
Viewings by appointment only. Please contact the vendor to arrange – Miss Thompson 078540 55172 charlottethompson90@yahoo.co.uk
If you would like to apply after you have conducted a viewing, a PDF writable application form can be saved from the Brochure Section on this advert. Please email a fully completed copy to ResalesandStaircasing@optivo.org.uk or call 020 803 62838
Application forms need to be returned to Optivo asap - first come first serve basis
Please note though that if a high volume of applications is received, the deadline might be brought forward.
Key Features
The accommodation is laid out on a single floor and generally comprises the following:
Ground Floor – Shared entrance hall, hall, lounge (5.3m x 3.1m), kitchen 2.7m x 2.0m), bedroom 1 (3.8m x 3.2m with en suite shower room/WC), bedroom 2 (4.0M X 1.8M), bathroom/WC (2.0m x 1.9m).
Outside – Communal gardens and allocated parking space located in a secured parking area close by.
We have calculated that the property has a gross internal floor area in the region of 59m.
Property Downloads
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 costs for the property as a whole and communal areas
- Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.
NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.
Share percentage 50%, full price £185,000, £4,625 Min Deposit. Calculated using a representative rate of 3.94%
