2 bed Flat For Sale £15,000
Situated in the heart of Hexham, this two bedroom second floor apartment is offered for sale on a 25% share basis, the other 75% share is owned by Karbon Homes, there is a service charge and rent of £437.92 per month which includes 75% rent, the cleaning of communal areas and building insurance. The property is leasehold with 60 years remaining.
The scheme is available if you are part of a household earning up to £80,000 a year, and if this is your first home, or you used to be a homeowner but you can no longer afford to buy a property. You will also need to have no outstanding credit issues, so make sure you get your finances in order before you apply.
The remaining share is owned by a Housing Association, and you will pay rent comprising up to 3% of this amount. You can buy additional shares in the property over time until you own it outright - known as staircasing.
Although the Housing Association may have shares in your home, you will become the owner of the lease. As the leaseholder, you will be responsible for repairs inside the property and the Housing Association will take care of the outside. To cover any costs that might be necessary for outside work, you may need to pay a service charge, which will be charged on a monthly basis. It is a good idea to find out how much the service charge might be and factor that into your monthly outgoings.
You can buy additional shares of your home until you own the majority or all of your home. This process is called Staircasing and allows you to own more of your home as you earn more money or can afford a bigger mortgage. Each time you wish to purchase more shares, these will be based on the value of the home at the time of buying the shares, and not the value of your home when you first bought it.
The apartment is spacious and well presented with double glazing and gas central heating, there is secure barrier parking to the rear of the building, there is also a lift.
Secure entry to building via telephone entry system and lift or stairs to 1st and 2nd floors.
Viewing is highly recommended.
Reception Hall.
Sitting Room: 15’6(4.72m) x 11’9(3.58m)
Having window with deep window sill to rear of the building; double radiator; picture rail.
Kitchen: 9’0(2.74m) x 7’5(2.26m)
Excellent range of white wall and base cabinets with complimentary work surfaces and splash back tiling; stainless steel sink unit; electric oven; hob and extractor fan above; central heating boiler; window to rear elevation; radiator.
Utility Cupboard:
Plumbing for automatic washing machine; hanging space.
Bedroom One: 9’1(2.77m) x 13’9(4.19m)
Having a good range of fitted wardrobes; window to rear elevation; radiator.
Bedroom Two: 6’7(2.00m) x 10’0(3.05m)
Window to rear elevation; radiator.
Bathroom:
Comprising of panelled bath with shower over; wash hand basin; low level WC; tiling to walls; radiator.
Externally:
To the rear barrier parking.
Tenure
Shared Ownership. It is understood that this property is Shared Ownership. Should you decide to proceed with the purchase of this property, the Tenure and associated details and costs must be verified by your Legal Advisor before you expend costs.
Share For Sale: 25%
Rent Payable on Remaining Share: £437.92 per month.
Service Charge: Included in rent.
Length of Lease: 99 years from September 1983.
Any Other Charges/Obligations: N/A
Council Tax Band: Currently deleted from register.
EPC Rating: C
The scheme is available if you are part of a household earning up to £80,000 a year, and if this is your first home, or you used to be a homeowner but you can no longer afford to buy a property. You will also need to have no outstanding credit issues, so make sure you get your finances in order before you apply.
The remaining share is owned by a Housing Association, and you will pay rent comprising up to 3% of this amount. You can buy additional shares in the property over time until you own it outright - known as staircasing.
Although the Housing Association may have shares in your home, you will become the owner of the lease. As the leaseholder, you will be responsible for repairs inside the property and the Housing Association will take care of the outside. To cover any costs that might be necessary for outside work, you may need to pay a service charge, which will be charged on a monthly basis. It is a good idea to find out how much the service charge might be and factor that into your monthly outgoings.
You can buy additional shares of your home until you own the majority or all of your home. This process is called Staircasing and allows you to own more of your home as you earn more money or can afford a bigger mortgage. Each time you wish to purchase more shares, these will be based on the value of the home at the time of buying the shares, and not the value of your home when you first bought it.
The apartment is spacious and well presented with double glazing and gas central heating, there is secure barrier parking to the rear of the building, there is also a lift.
Secure entry to building via telephone entry system and lift or stairs to 1st and 2nd floors.
Viewing is highly recommended.
Reception Hall.
Sitting Room: 15’6(4.72m) x 11’9(3.58m)
Having window with deep window sill to rear of the building; double radiator; picture rail.
Kitchen: 9’0(2.74m) x 7’5(2.26m)
Excellent range of white wall and base cabinets with complimentary work surfaces and splash back tiling; stainless steel sink unit; electric oven; hob and extractor fan above; central heating boiler; window to rear elevation; radiator.
Utility Cupboard:
Plumbing for automatic washing machine; hanging space.
Bedroom One: 9’1(2.77m) x 13’9(4.19m)
Having a good range of fitted wardrobes; window to rear elevation; radiator.
Bedroom Two: 6’7(2.00m) x 10’0(3.05m)
Window to rear elevation; radiator.
Bathroom:
Comprising of panelled bath with shower over; wash hand basin; low level WC; tiling to walls; radiator.
Externally:
To the rear barrier parking.
Tenure
Shared Ownership. It is understood that this property is Shared Ownership. Should you decide to proceed with the purchase of this property, the Tenure and associated details and costs must be verified by your Legal Advisor before you expend costs.
Share For Sale: 25%
Rent Payable on Remaining Share: £437.92 per month.
Service Charge: Included in rent.
Length of Lease: 99 years from September 1983.
Any Other Charges/Obligations: N/A
Council Tax Band: Currently deleted from register.
EPC Rating: C
