1/11
£94,000
This superb modern home is available to buy from as little as £94,000 with a 40% share!
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 £235,000 and a purchaser would not need to meet the eligibility criteria listed above.
A beautifully presented one-bedroom second floor apartment, ideally located in the popular area of Letchworth Garden City. Perfect for first-time buyers, this home offers modern, low maintenance living in a well-connected and convenient setting.
The property features a spacious open-plan kitchen and reception room, providing a bright and versatile living space ideal for both relaxing and entertaining. French doors open out onto a private balcony, offering a lovely spot to enjoy some fresh air. The double bedroom is generously sized, and the bathroom is modern and well-appointed.
Externally, the property benefits from allocated parking, adding convenience and peace of mind. There is also a communal play area nearby, making the development feel welcoming and family friendly.
Situated close to local amenities including shops, supermarkets, cafes and schools, the property also enjoys excellent transport links. Letchworth Garden City railway station is within easy reach, providing direct services into London and surrounding towns, while nearby road links make commuting straightforward.
PRICING & AFFORDABILITY
Full Market Value: £235,000
40% Share Price: £94,000 (rent £318.92pcm)
Minimum 5% Mortgage Deposit (40% share): £4,700
Approximate Service Charges: £118.90pcm*
Lease: 92 years
You can add locations as 'My Places' and save them to your account. These are locations you wish to commute to and from, and you can specify the maximum time of the commute and by which transport method.
Sown Shared Ownership