2 bedroom apartment for sale
71 Coopers Yard, Paynes Park, SG5 1AR
Share percentage 50%, full price £285,000, £7,125 Min Deposit.
Share percentage 50%, full price £285,000, £7,125 Min Deposit
Monthly Cost: £1,305
Rent £347,
Service charge £184,
Mortgage £774*
Calculated using a representative rate of 4.78%
Calculate estimated monthly costs
we require a minimum 5% deposit plus £2500 to cover moving and legal costs making the minimum deposit required £9,625 for this property
Summary
2 bedroom ground floor flat
Description
2 bedroom ground floor flat with own front door, as opposed to a communal entrance way
Both bedrooms are good size doubles with built in cupboards/wardrobes.
Master bedroom has en-suite bathroom and there is then a further main family bathroom
Kitchen/diner with French doors that open from the living area onto the patio
Refurbished bathrooms
Quiet town centre location
Secure underground parking spot
As this property is a flat, please note that as a result of building safety regulations, some lenders are requiring certain properties to have a completed EWS1 form. An EWS1 (External Wall System) form provides independent assurance that your building meets the requirements of the Government's latest standards.
Unfortunately, we have seen that some lenders may still wish to request this information even though it is not a legal requirement. Stonewater do not have an EWS1 in place for all buildings and should a mortgage lender require this, any purchase may be impacted. If an EWS1 is requested, whether one is required or not, Stonewater are committed to providing as much information as possible to satisfy a lenders request for an EWS1. We suggest you speak with a financial advisor before proceeding.
Further information about EWS1 and Stonewater’s position can be found at https://stonewaterhomes.co.uk/government-guidance-changes-for-EWS1
Key Features
Thank you for your recent interest in the above property. The seller is currently accepting viewings and if you would like to arrange a viewing, please contact the seller on the details below.
Seller Name: Laura Jump
Seller Contact Details: 07966 929 646 laurajump85@gmail.com
As a shared ownership home, you will need to be eligible for Shared Ownership.
As a reminder, to be eligible for shared ownership you will need to evidence:
• your household income is £80,000 a year or less (£90,000 a year or less in London)
• you cannot afford all of the deposit and mortgage payments for a home that meets your needs
One of the following must also be true:
• you’re a first-time buyer
• you used to own a home but cannot afford to buy one now
• you’re forming a new household - for example, after a relationship breakdown
• you’re an existing shared owner, and you want to move
• you own a home and want to move but cannot afford a new home that meets your needs
Please take note of the minimum income, £48,799 which is based on the minimum deposit of £7125 plus moving/legal fees of £2500 for this property. If you are placing a larger deposit, the minimum income will reduce. Always check with us if you are unsure whether you can afford the property.
If you make a successful offer to the seller after your viewing, they will let us know and we will then be able to refer you for a financial assessment with an Independent Financial Advisor. This is compulsory for all Shared Ownership purchases and does not interfere with any mortgage arrangements you have already made. They will complete an assessment but you are not obliged to use them afterwards to arrange your mortgage, but can if you wish. You will also be required to complete a Stonewater application form. Further information on the financial assessment and application form will be provided.
Please let us know if you need any further information and good luck with your viewing
Particulars
Tenure: Leasehold
Lease Length: 83 years
Council Tax Band: C
Property Downloads
Key Information Document Energy CertificateMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: Yes
Outside Space/Garden: n/a
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Electric
Sewerage: Enquire with provider
Water: Mains supply
Electricity: Mains supply
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 50%, full price £285,000, £7,125 Min Deposit. Calculated using a representative rate of 4.78%
