2 bedroom apartment for sale
Solent House, Silver Streak Way, ME2 2GW
Share percentage 35%, full price £210,000, £7,350 Min Deposit.
Share percentage 35%, full price £210,000, £7,350 Min Deposit.
Monthly Cost: £957
Rent £401,
Service charge £183,
Mortgage £373*
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 second floor, two-bedroom apartment in Strood.
Description
The property comprises a communal entrance with entry system, open plan kitchen and reception, kitchen with integrated and standalone appliances, private balcony overlooking gardens, two bedrooms, master bedroom with built-in wardrobes, family bathroom with shower over bath and hallway storage.
The property also benefits from access to bicycle storage, landscaped communal gardens with play area and allocated parking.
Lease: Commenced 2008 with 125-year term
Council Tax Band: Medway Council - C
Approx. Gross Internal Area: 721sq.ft.
FINANCIAL INFORMATION
Property Value = £210,000
Percentage Share = 35%
Share Price = £73,500
*Monthly Rent = £401.38
*Monthly Service Charge = £182.85
**Monthly Mortgage Payment = £376
***Annual Household Income = £33,000
*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
- Situated close to both Rochester and Strood town centres, which offer a variety of shops, restaurants, bars and other amenities.
- Walking distance to Medway Valley Leisure Park which consists of a number of amenities including, Nuffield Health Fitness and Wellbeing gym, Hollywood Bowl, Cineworld and a choice of restaurants.
- Morrisons petrol station and shop is nearby including Ranscombe Nature Reserve and Bluewater is less than a 20minute drive away.
- The property is approx. 1.7 miles from Cuxton rail station and approx. 1.9 miles from Strood rail station both offering direct services to Central London, Tonbridge and Maidstone. Ideally located for commuting into London and Maidstone, nearby train stations include Rochester, Strood and Cuxton. Easy access to the A2 and M2 routes London bound, and coast bound. Alternatively, the M20 is around 6.7 miles away.
- The property is in the catchment area for several schools, one being a small village school in Cuxton.
Particulars
Tenure: Leasehold
Lease Length: 109 years
Council Tax Band: C
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 35%, full price £210,000, £7,350 Min Deposit. Calculated using a representative rate of 4.64%
