1 bedroom apartment for sale
South Shore, Ocean Drive, ME7 1FY
Share percentage 40%, full price £190,000, £7,600 Min Deposit.
Share percentage 40%, full price £190,000, £7,600 Min Deposit.
Monthly Cost: £755
Rent £224,
Service charge £145,
Mortgage £386*
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, one-bedroom apartment in Kent.
Description
The property is located in picturesque area with a water feature and play area within the complex.
The property comprises of a communal/wheelchair accessible entrance, entry system, lift access. comes with allocated parking (undercover), the building also has CCTV at front and rear entrance. Kitchen with integrated appliances, living/dining area, juliette balcony, one bedroom including built in wardrobe, family bathroom with shower over bath and hallway storage cupboard. New carpets throughout.
Lease: Commenced 2012 with 125-year term
Council Tax Band: Medway Council - C
Approx. Gross Internal Area: 504sq.ft.
FINANCIAL INFORMATION
Property Value = £190,000
Percentage Share = 40%
Share Price = £76,000
*Monthly Rent = £224.12
*Monthly Service Charge = £144.75
**Monthly Mortgage Payment = £388.00
***Annual Household Income = £24,000
*Please note the rent and service charge is reviewed annually 01 April. Service Charge includes £54.21 paid to Hyde and £90.54 paid to Jenny and Barratt.
** 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 in Gillingham next to the River Medway close to local shops & amenities, Gillingham train station.
- Gillingham Town Centre is located 1.0 miles from the apartment and offers a wide variety of shops, restaurants, entertainment and other amenities.
- Gillingham Train Station is situated 1.0 miles from the property and offers direct services to; London Victoria, Ramsgate and high-speed rail services to London St Pancras.
- Within close proximity of local primary and secondary schools.
- The M2 is easily accessible which provides a direct route to London.
Particulars
Tenure: Leasehold
Lease Length: 113 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 40%, full price £190,000, £7,600 Min Deposit. Calculated using a representative rate of 4.64%
