2 bedroom apartment for sale
Collyers Court, East Street, CO1 2TS
Share percentage 75%, full price £170,000, £6,375 Min Deposit.
Share percentage 75%, full price £170,000, £6,375 Min Deposit.
Monthly Cost: £833
Service charge £106,
Mortgage £727*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
Summary
Two bedroom ground floor flat
Description
We are delighted to be offering the opportunity to purchase a 75% share of this property through Shared Ownership. Located within walking distance of the town centre, train station and Colchester’s historic Castle Park. This is a well presented two bedroom ground floor maisonette comprising of:
Entrance – Own front door at street level
Hallway - Doors leading to living area, bathroom and bedrooms. Spacious airing cupboard.
Living area –Large living room with space for dining table leading to kitchen. Storage cupboard. Aerial/phone points.
Kitchen – Fitted with a range of modern base and wall units. Gas hob, electric oven and extractor hood. Space for fridge/freezer and washing machine. Stainless steel kitchen sink and drainer. Vinyl flooring. Patio doors to private back garden.
Main bedroom – Double bedroom, carpeted with fitted wardrobes.
Bedroom 2 – Single bedroom. Carpeted.
Bathroom – Bathroom suite with over bath shower, wash hand basin and toilet. Heated towel rail. Vinyl flooring.
External - private back garden, laid to lawn with patio area.
The buyer should be made aware of the following: The purchase price is for a new 99-year lease to be granted. The maximum share that can be owned is 75%, you cannot staircase to buy further shares. There is no rent payable on the property, only the service charge.
Applications are based on a first come first serve basis. Please note, that you will be required to supply a copy of your mortgage in principle/agreement in principle as part of your application.
Key Features
75% Shared Ownership
No rent payable, only service charge
Private back garden
Close to train station
Gas central heating
Particulars
Tenure: Leasehold
Lease Length: 99 years
Council Tax Band: B
Map
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 75%, full price £170,000, £6,375 Min Deposit. Calculated using a representative rate of 5.26%