2 bedroom apartment for sale
Primula Court, Primrose Hill, CM1 2FZ
Share percentage 30%, full price £285,000, £8,550 Min Deposit.
Share percentage 30%, full price £285,000, £8,550 Min Deposit.
Monthly Cost: £1,226
Rent £560,
Service charge £232,
Mortgage £434*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Summary
Good EPC rating, Communal Gardens, Well presented throughout
Description
SHARED OWNERSHIP
Full Market Value - £285,000
You Pay (30%) - £85,500
Monthly Rent - £560.59
Service Charge - £231.62
Annual Ground Rent - £350
Council Tax Band - C
99 year lease commenced in June 2015 - 90years remaining
New guidance, from the Royal Institute of Chartered Surveyors (RICS), means that lenders should no longer require an EWS1 form for this property. However, we cannot guarantee that all Mortgage lenders, brokers and valuers are utilising the same criteria.
Primrose Hill is conveniently located to local schools, shops and transport links in and around Chelmsford and is only 0.4 miles away from Chelmsford mainline railway station. Chelmsford City centre is also within easy walking distance with it's shopping facilities, pubs and restaurants.
The buyer will require a deposit to obtain a mortgage for this property.
To meet the requirements for this property we require as a guideline, a minimum household income of £46,087. If you are offered the property, your ability to afford this property will be assessed at your financial interview. Please note that applicants should purchase the maximum share that they can afford and sustain.
Only applicants who are registered with London and Quadrant will be eligible to be offered a property in one of our schemes. If you are not registered please visit our website www.lqhomes.com and register to obtain your unique reference number.
Your home is at risk if you fail to keep up repayments on a mortgage, rent or other loan secured on it. Please make sure you can afford the repayments before you take out a mortgage.
These particulars are of opinion only, are intended to give a fair description and do not form the basis of a contract. The descriptions and all other information are believed to be correct as of April 2024.
Key Features
- Spacious reception room with separate kitchen
- Kitchen fitted with white wall and base units with a wood effect worktop, benefitting from an intergrated oven.
- Good EPC rating
- 0.4 miles away from Chelmsford mainline railway station
Particulars
Tenure: Leasehold
Lease Length: 90 years
Council Tax Band: C
Property Downloads
Key Information Document Floor Plan Energy CertificateVirtual Tour
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 30%, full price £285,000, £8,550 Min Deposit. Calculated using a representative rate of 4.64%
