Share Price £96,250 (from 35% Min. Share)

Full Value £275,000 | £9,625 Min. Deposit

Scheme: Shared Ownership Resales

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1 bedroom apartment in Brighton - City of Brighton and Hove

place 25 Dorset Gardens, BN2 1GS

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Available through a shared ownership resale scheme, a well presented bright and spacious one bedroom, first floor apartment situated in the vibrant and convenient area of Brighton.


Eligibility

You may be eligible for this property if:

  • You have a gross household income of no more than £80,000 per annum.
  • You are unable to purchase a suitable home to meet your housing needs on the open market.
  • You do not already own a home or you will have sold your current home before you purchase or rent.

Description

25 Dorset Gardens, Brighton, East Sussex, BN2 1GS

Property description:

The property comprises of a bright secure communal entrance with phone entry system and lift access, open plan living/dining room area leading out to a balcony, fitted kitchen with inbuilt oven and hob, master bedroom, family bathroom with shower over bath and large storage cupboard in hallway.

Length of Lease: Approx. 120 Years

Council Tax Band: Brighton & Hove Council - B

Gross Internal Area: 54m2

FINANCIAL INFORMATION

Property Value = £275,000

Percentage Share = 35%

Share Price = £96,250

Monthly Rent = £437.81 (from 1st April 2021) *

Monthly Service Charge = £100.12 (from 1st April 2021) *

Monthly Mortgage Payment = £481 **

Annual Household Income = £36,000 ***

*Please note the rent and service charge is reviewed annually on the 01 April.

** Based on a 90%, 25-year repayment mortgage with an interest rate at 4.5%.

***Is based on a 10% mortgage deposit. If you have a higher deposit Hyde New Homes can discuss how the salary required is reduced (approximately every 5% extra deposit reduces the salary required by £1,200).

Your home may be at risk if you do not keep up your mortgage and rent repayments. Particulars give a fair overall description of the property and are not intended to constitute an offer or form part of any contract. Areas, distances or measurements referred to are approximate. For confirmation of property details refer to the terms of the lease and plans from your solicitor. Hyde New Homes Resale properties are sold as seen, photographs and details (excluding financial information) are provided by the leaseholder. Please note that the Resales Team have not visited this property.

Contact us now to arrange a viewing:

Please call the Sales Team on 0345 606 1221 and providethe following information:

Your Contact Number/Email

Your Hyde New Homes or Help to Buy reference number**

Your Deposit for the mortgage

If it is a Single/Joint application (if married it must be joint)

Your Current salary (single/Joint where applicable)

Do you have any children? If so, how many?

Do you own any pets? If so, what?

Are you a current homeowner?

**To obtain a Hyde New Homes Reference number, visit https://so.hydeform.co.uk/ to register and complete the online application. A reference number will be emailed to you once the application is completed. If you have a Help to Buy reference number, we will accept this as well.


Key Features

  • Situated in the centre of Brighton, this flat offers the best of the city right on its door¬step, from the famous Brighton Pavilion and historic laines to it’s exciting range of shops and restaurants, all within walking distance.
  • The promenade and beach front are just moments away from the central flat.
  • There are excellent bus links to surrounding towns and villages & Brighton railway station provides direct links to Central London.
  • The property is also located within close proximity of local primary/secondary schools.

Download Documents

Energy Certificate

Accessibility

C – Lifetime Homes

Meets the space standards of the Lifetime Homes developed by the Joseph Rowntree Foundation. Designed to meet the space standards of Lifetime Homes. Main features include a level approach/entrance and wider doorways. This category will capture all new general needs housing built to Lifetime Homes standards. Properties achieving this category will not necessarily meet all Lifetime Homes design guidance as the LAHR framework does not assess features other than space and access. Properties may have an internal flight of stairs. If so, these will be wide enough to accommodate future provision of a stair lift subject to technical feasibility.


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Calculate Monthly Cost

Share price
£ 96,250
Min. £96,250
Share percentage
Min. 35%
Your deposit
Min. £9,625
Monthly cost*
£953
Cost breakdown
£438
Rent
£100
Service charge
£415
Mortgage*
Calculated using a representative rate of 3.09%
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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.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

  • 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 costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.


NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.