The Property

The property briefly comprises of an Entrance Hall, Spacious open plan Kitchen, Living/Dining Room with full height windows. Property also has a spacious double bedroom, storage cupboard and bathroom with fitted shower over the bath.
Additional benefits include allocated parking, bicycle storage and secure door intercom system.


Prices

One-bedroom Apartment - FMV £115,000

£46,000 for a 40% share (deposit from £2,300)
Monthly rent on remaining share £158.13
Service charge £86.60

£57,500 for a 50% share (deposit from £2,875)
Monthly rent on remaining share £131.77
Service charge £86.60

£86,250 for a 75% share (deposit from £4,312.50)
Monthly rent on remaining share £65.89

Other shares can be purchased subject to an affordability assessment.

Ground Rent - we do not charge a Ground Rent.

Service Charge - A service charge of £86.60 will be charged against the property and is paid monthly with your rent payment. The service charge is reviewed on an annual basis on April 1st. This will include Buildings insurance, management and any communal/estate charges that may be covered (if applicable).

Council Tax TBC - Band A

Examples of deposit rates are based on our minimum required deposit rate of 5%. However please seek financial advice to confirm what deposit rate is available to you



NEXT STEPS:

1. For further information, please download our brochure below.
2. TO APPLY NOW, please make an enquiry to contact Platform Home Ownership, the relevant sales consultant will then send you an application form to complete.
3. Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.
4. Once you have passed the affordability assessment, we will then be in contact to confirm the availability.
5. If there is a suitable property we will then issue out your offer letter and advice on how to pay your £250.00 reservation fee for your new home.

Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. It allows you to buy a share in aleasehold property on a part buy/ part rent basis and pay a subsidised rent on the part that you do not own. After the initial purchase it is possible to buy further shares and eventually own these properties outright.

We will offer shares for sale normally between 25-75% of the property depending on how much you can afford to purchase, and charge rent on the remaining share. The bigger the share you buy, the less rent you have to pay. You will need to be able to raise a mortgage for the share you want to purchase unless you have sufficient money to enable you to purchase without. The combined cost of mortgage and rent is often cheaper than privately renting in the area.

Am I eligible?
Shared Ownership uses the following criteria to help people to get a foot on the housing ladder:
- Maximum annual household income of £80,000.