This superb modern home is available to buy from as little as £55,000 with a 25% share!
Situated on the second floor of Nye House, this well-presented two-bedroom apartment is offered for sale with no onward chain and offers spacious and thoughtfully arranged accommodation. The property features a generously proportioned open plan sitting room and kitchen. There are two good sized bedrooms, with the principal bedroom benefiting from its own en-suite shower room. A separate family bathroom and welcoming entrance hallway complete the accommodation. Externally is parking for one car (must be registered).
Nye House is conveniently positioned on Sherlock Street, within easy reach of Birmingham city centre and its extensive range of shopping, dining and leisure facilities. The popular Bullring & Grand Central shopping destination, The Mailbox and the vibrant Southside district are all accessible, offering an excellent selection of shops, restaurants, bars and entertainment venues. Nearby green spaces, including Calthorpe Park, provide opportunities for outdoor recreation, while everyday amenities and supermarkets are also close at hand.
The property is well placed for excellent transport connections, with Birmingham New Street, Five Ways and Birmingham Moor Street railway stations all within easy reach, providing services across the West Midlands and beyond. Regular local bus services offer convenient access to surrounding neighbourhoods, while the nearby A38 provides connections through Birmingham and towards the wider motorway network, including the M6 and M5.
PRICING & AFFORDABILITY
Full Market Value: £220,000
25% Share Price: £55,000 (rent £446.92pcm)
Minimum 5% Mortgage Deposit (25% share): £2,750
Approximate Service Charges: £169.23pcm*
Shared Ownership Lease: 120 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.
** This home can also be purchased outright (100% of the value) which is £220,000 and a purchaser would not need to meet the eligibility criteria listed above.
