Shared Ownership
This superb modern home is available to buy from as little as £136,500 with a 65% share!
A well-presented two-bedroom eighth-floor apartment situated within the modern West Terrace development on Kings Road, Stevenage. Offering approximately 619 sq ft of accommodation, the property benefits from a private balcony and one allocated parking space, alongside a practical contemporary layout.
The accommodation comprises a spacious open-plan kitchen and reception room with direct access onto the balcony, a generous principal double bedroom and a second bedroom. There is also a modern bathroom and useful built-in storage, while the elevated eighth-floor position is an attractive feature of the apartment.
West Terrace occupies a particularly convenient central location, with Stevenage Railway Station around 0.1–0.2 miles away, making it ideal for access to mainline rail services. Westgate Shopping Centre, Stevenage town centre, supermarkets and other everyday amenities are also within easy walking distance.
PRICING & AFFORDABILITY
Full Market Value: £210,000
65% Share Price: £136,500 (rent £246.35pcm)
Minimum 5% Mortgage Deposit (65% share): £6,825
Approximate Service Charges: £206.16pcm*
Lease: 191 years
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 £210,000 and a purchaser would not need to meet the eligibility criteria listed above.
Council Tax Band C
