This superb modern home is available to buy from as little as £50,000 with a 25% share!
This well-proportioned one-bedroom second-floor apartment is situated within Pelican Court in the popular town of Letchworth Garden City. The accommodation comprises an entrance hallway with useful built-in storage cupboards, a spacious reception room offering ample space for both living and dining furniture, a separate fitted kitchen, a generous double bedroom and a bathroom. Externally is one allocated parking space.
Pelican Court is conveniently located in Letchworth Garden City, a charming Hertfordshire town renowned for its attractive green spaces, tree-lined streets and distinctive Garden City heritage. The town centre offers a variety of independent shops, cafés, restaurants and supermarkets, together with a range of leisure facilities. Nearby attractions include Howard Park and Gardens, Norton Common and the Broadway Cinema, while the surrounding countryside provides further opportunities for walking and outdoor recreation.
Letchworth Garden City benefits from excellent transport connections, making it a popular choice for commuters. Letchworth Garden City railway station provides regular services towards London King's Cross and Cambridge, while nearby road connections include the A1(M), A505 and A507, offering convenient access to Stevenage, Hitchin, Baldock and surrounding areas. The town is also well served by local bus routes connecting neighbouring communities.
PRICING & AFFORDABILITY
Full Market Value: £200,000
25% Share Price: £50,000 (rent £330pcm)
Minimum 5% Mortgage Deposit (25% share): £2,500
Approximate Service Charges: £90.30pcm*
Shared Ownership Lease: 87 years remaining
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.
