2 bedroom apartment for sale
Woolworth House, Bessemer Road, AL7 1GR
Share percentage 70%, full price £340,000, £11,900 Min Deposit.
Share percentage 70%, full price £340,000, £11,900 Min Deposit
Monthly Cost: £1,743
Rent £295,
Service charge £155,
Mortgage £1,293*
Calculated using a representative rate of 4.78%
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
• 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 £340,000 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 £238,000 with a 70% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £238,000 with a 70% share!
A well-presented upper floor flat located in a desirable part of Welwyn Garden City, offering a perfect blend of comfort, convenience, and connectivity.
The property comprises two generous bedrooms, a modern bathroom, and a bright open-plan living and dining area that opens out onto a private balcony – ideal for enjoying your morning coffee or unwinding in the evening. The kitchen is well-equipped, offering plenty of storage and worktop space, making it ideal for both everyday living and entertaining. Additional benefits include residents' parking and secure entry to the building.
Situated within easy reach of Welwyn Garden City town centre, the flat is close to a wide range of amenities including supermarkets, restaurants, cafés, gyms, and the Howard Centre shopping mall. The area also offers excellent transport links, with Welwyn Garden City train station providing regular fast services to London Kings Cross in under 30 minutes. For drivers, the A1(M) and M25 are easily accessible, making commuting and travel further afield convenient.
PRICING & AFFORDABILITY
Full Market Value: £340,000
70% Share Price: £238,000 (rent £295.19pcm)
Minimum 5% Mortgage Deposit (70% share): £11,900
Approximate Service Charges: £155.16pcm*
Lease:118 Years
Key Features
Modern Shared Ownership home
Two Bedrooms
One Bathroom
One Living/Kitchen/Dining room
Private Balcony
Residents Parking
Particulars
Tenure: Leasehold
Lease Length: 118 years
Council Tax Band: C
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: n/a
Outside Space/Garden: n/a
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 70%, full price £340,000, £11,900 Min Deposit. Calculated using a representative rate of 4.78%
