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2 bedroom apartment for sale

Available

Old Station House, Station Road, Polegate, BN26 6EH

£74,375 Shared Ownership Resale

Share percentage 35%, full price £212,500, £7,438 Min Deposit.

Available
2 bedrooms
2 Bathrooms
Parking
Floor plan
floor-plan
Floor plan
floor-plan
£74,375 Shared Ownership Resale

Share percentage 35%, full price £212,500

Monthly Cost: £951

Rent £427, Service charge £155, Mortgage £369*

Calculated using a representative rate of 4.42%

Calculate estimated monthly costs

£
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Summary

A Fantastic Opportunity to Purchase a Two Bedroom Flat on a Shared Ownership (Part Buy/Part Rent) Basis

Description

This spacious flat is on the first floor but rear (south) facing so effectively ground floor due to the height difference across the site. The property has a twenty-eight-foot reception room with a large window at one end and a smart, open-plan kitchen area at the other. The kitchen also has a window in the east wall to provide additional natural light. There is a main bedroom with en-suite shower room plus a very similar-sized second double bedroom, an attractive bathroom and a large hallway storage/utility cupboard. Well insulated walls and floor, high performance glazing and a modern gas central heating system all contribute towards a very good energy-efficiency rating. Contrary to the name, Old Station House is quite recent in construction. The current railway station is just a few minutes away and provides services to various locations along the south coast along with trains to London Victoria. The nearby primary school is Ofsted-rated 'Outstanding' and the local secondary is also well thought of. The property comes with use of an allocated parking space.

SHARED OWNERSHIP (Advertised price represents 35% share. Full market value £212,500).

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ https://tinyurl.com/533s8vpn]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Clarion.
Tenure: Leasehold (125 years from 08/03/2019).
Minimum Share: 35% (£74,375). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £427.08 per month (subject to annual review).
Service Charge: £154.64 per month (subject to annual review).
Ground Rent: £150.00 for the year.
Guideline Minimum Income: Dual - £29,100 | Single - £34,200 (based on minimum share and 10% deposit).
Council Tax: Band C, Wealden District Council. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals).

Key Features
  • Guideline Minimum Deposit £7,437.50
  • Guide Min Income Dual £29.1k | Single £34.2k
  • First Floor (level with rear entrance)
  • Approx. 810 Sqft Gross Internal Area
  • Bathroom plus En-Suite Shower Room
  • Very Good Energy Efficiency Rating
  • Parking Space
  • Minutes from Polegate Station
Particulars

Tenure: Leasehold
Council Tax Band: C

Property Downloads
Key Information Document Floor Plan Brochure Brochure
Polegate (0.03 miles) Hampden Park (2.12 miles) Pevensey & Westham (3.26 miles)
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Monthly Cost Calculator

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together, rent, service charge and mortgage.

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  • Rent: this is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes)
  • Service Charge: covers maintenance costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.

NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.

£74,375
Shared Ownership Resale
Estimated Monthly Cost:£951
Rent £427
Service £155
Mortgage £369

Share percentage 35%, full price £212,500, £7,438 Min Deposit. Calculated using a representative rate of 4.42%

Calculate estimated monthly costs

£
Disclaimer
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone.