2 bedroom apartment for sale
Brookfield House, HP2 4FA
Share percentage 35%, full price £220,000, £3,850 Min Deposit.
Share percentage 35%, full price £220,000, £3,850 Min Deposit.
Monthly Cost: £1,140
Rent £700,
Service charge £1,
Mortgage £439*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £80,000/£90,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
** This home can also be purchased outright (100% of the value) which is £220,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £77,000 with a 35% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £77,000 with a 35% share!
Offered to the market with no onward chain is this bright and spacious two bedroom first floor apartment, situated moments away from the town centre.
Accommodation comprises entrance hall with storage cupboards, an open plan kitchen / living room, two good size bedrooms with built in wardrobes to bedroom one, family bathroom and a great sized, private balcony.
Hemel Hempstead with its Malls of Riverside and The Marlowes offers a full range of shopping facilities and other amenities. For the commuter the M1 and M25 are close at hand, whilst the mainline railway station offers a fast and frequent service to London Euston.
PRICING & AFFORDABILITY
Approximate Size: 602sq ft
Full Market Value: £220,000
35% Share Price: £77,000 (rent £700.16pcm)
Minimum 5% Mortgage Deposit (35% share): £3,850
Approximate Service Charges: £TBC pcm*
Shared Ownership Lease: approx. 104 years
Council Tax Band: D
Key Features
SHARED OWNERSHIP
Town Centre location
Two double bedrooms
Private balcony
Chain free
Particulars
Tenure: Leasehold
Lease Length: 104 years
Council Tax Band: D
Property Downloads
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 35%, full price £220,000, £3,850 Min Deposit. Calculated using a representative rate of 5.26%
