2 bedroom apartment for sale
Flat 11, 31 Saint Vincent Avenue, Newton Leys, MK3 5SJ
Share percentage 50%, full price £225,000, £5,625 Min Deposit.
Share percentage 50%, full price £225,000, £5,625 Min Deposit.
Monthly Cost: £1,063
Rent £332,
Service charge £90,
Mortgage £641*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:
- Not own another property in the UK or any other country.
- Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
- Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
- Be in full time permanent employment.
Summary
Must be seen top floor apartment!
Description
Must be seen! This top floor apartment features a large size open kitchen/lounge, two double bedrooms, and ensuite to the principal bedroom. A well presented home throughout, making it ideal for first-time buyers. There is also handy allocated and visitor parking available.
*Information is correct to the best of our knowledge, please speak to the estate agent for more information*
Key Features
- Popular Shared Ownership Scheme Home
- 50% Share
- Sought After Location & Schooling Area
- Two Double Bedrooms
- Bathroom
- Large Size Open Plan Kitchen/Lounge
- Bedroom One With Ensuite
- Allocated & Visitor Parking
- Tenure:Leasehold (125 years from 02/07/2021)
- Share Available:50% (£112,500)
- Shared Ownership Rent:£331.60 per month (subject to annual review)
- Lease Management Fee:£25.61 per month (subject to annual review)
- Service Charge:£90.00 per month (subject to annual review)
- Council Tax:Band B, Milton Keynes Council
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: B
Property Downloads
Key Information Document Floor PlanMap
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 50%, full price £225,000, £5,625 Min Deposit. Calculated using a representative rate of 5.26%
