3 bedroom house for sale
282 Elphinstone Road, TN34 2FJ
Share percentage 40%, full price £280,000, £5,600 Min Deposit.
Share percentage 40%, full price £280,000, £5,600 Min Deposit
Monthly Cost: £1,084
Rent £399,
Service charge £61,
Mortgage £624*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
Summary
This property is a mid-terrace house.
Description
Accommodation
Ground Floor: Entrance Hall/Stairs, Kitchen, Living Room, and a Guest Cloakroom/WC.
First Floor: Landing, Three Bedrooms, and a Bathroom/WC.
Improvements: Converted from a two bedroom into a three bedroom property and sound proofing has been added into the conversion.
External: Off-street parking spaces and a lawned rear garden.
Location
This property is positioned in a residential area on an estate of similar and larger properties. The main town centre of Hastings is approximately two miles away and provides a range of facilities and amenities, in addition to a railway station.
Key Features
Purchase Information
For Sale is a 40% share of the property for £112,000.00 with an additional monthly charge of £459.41 which includes Rent, Service Charge, Insurance and Management Charge.
The Full Market Value of £280,000.00 does not consider the extensive improvements that have been undertaken in this property.
Therefore, the 40% share of £112,000.00 has an additional £15,000.00 to be added to cover the improvement value bringing the total payment required to £127,000.00.
Please take this into account with your finances as Mortgage Lenders will only loan on the market share valuation and not consider the improvements value. You will therefore require a large deposit of £15,000.00 plus any that your lender requires.
The share in this property is also listed with a local estate agent for £122,000.00, and the vendor won’t accept less than this.
Based on this price, you would need a deposit of £10,000, plus any additional amount required by your mortgage lender.
Additional Information
If you require any further information or wish to arrange a viewing, please contact Orbit Home Ownership Services using the details provided.
Buyers note: The freehold ownership of this property is currently owned by Orbit Group (the landlord) and is being considered for transfer to another Registered Provider. Like Orbit, the proposed new landlord is registered with the Regulator of Social Housing, so is governed by the same regulatory standards.
The terms and conditions of the tenancy are protected by the lease, and these will continue to apply to a new landlord, which includes how your rent may change in the future and any future purchase that you might wish to make. Like Orbit, the proposed future landlord can only change those terms in the ways set out in your lease agreement.
For further information on the proposed transfer, please contact Orbit Group’s Home Ownership team at: 0800 678 1221 and press the option for Home Ownership team.
Particulars
Tenure: Not specified
Council Tax Band: B
Map
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: Yes - Off Street
Outside Space/Garden: Yes - Rear Garden
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
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 £280,000, £5,600 Min Deposit. Calculated using a representative rate of 5.03%
