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3 bedroom house for sale

Available

Manifold Drive, Alvaston, DE24 0TR

£82,500 · Shared Ownership Resale

Share percentage 50%, full price £165,000, £4,125 Min Deposit.

Available
3 bedrooms
1 Bathroom
Floor plan
floor-plan
Floor plan
floor-plan
£82,500 Shared Ownership Resale · Eligibility Eligibility

Share percentage 50%, full price £165,000, £4,125 Min Deposit

Monthly Cost: £688
Rent £178, Service charge £62, Mortgage £448*

Calculated using a representative rate of 4.78%

Calculate estimated monthly costs

£
Eligibility

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 £165,000 and a purchaser would not need to meet the eligibility criteria listed above.

Summary

This property in need of complete modernisation is available to buy from as little as £82,500 with a 50% share!

Description

Shared Ownership

This property in need of complete modernisation is available to buy from as little as £82,500 with a 50% share!

This end of terrace property requires complete renovation. The accommodation comprises entrance hall, reception room, kitchen/dining room, three bedrooms and a shower room. Outside, there is driveway parking and a private garden at the rear.

Alvaston is a well-established suburb of Derby, situated about 3miles south-east of the city centre.
Frequent buses (Arriva and Diamond) run along the A6 to Derby centre, East Midlands Airport, Leicester. Road connections are strong via the A6, A5111 ring road, with Derby station a short bus or drive away.

PRICING & AFFORDABILITY

Full Market Value: £165,000

50% Share Price: £82,500 (rent £177.66 pcm)
Minimum 5% Mortgage Deposit (50% share): £4,125
Approximate Service Charges: £61.89 pcm*
Lease: 99 years

Key Features

50% share

End of terrace

Three bedrooms

Needs complete renovation

Kitchen/dining room

Garden

Parking

Particulars

Tenure: Leasehold
Lease Length: 99 years
Council Tax Band: A

Property Downloads
Floor Plan
Map
Spondon (1.04 miles) Derby (2.05 miles) Peartree (2.12 miles)
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

Monthly Cost Calculator

The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.

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  • 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.

£82,500
Shared Ownership Resale
Estimated Monthly Cost:£688
Rent £178
Service Charge £62
Mortgage £448

Share percentage 50%, full price £165,000, £4,125 Min Deposit. Calculated using a representative rate of 4.78%


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Disclaimer
The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.