Richard Howe House, Palm Drive, Rochester, Kent ME1 2EZ

£43,750 Shared Ownership

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  • Guideline Minimum Deposit £4,375
  • Guideline Income Dual £15.7k Single £18.1k
  • First Floor
  • Approx. 760 Sqft Gross Internal Area
  • High Performance Glazing
  • Gas Central Heating
  • Parking Space
  • Town Centre/Station Within Easy Reach

General Description

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

 

SHARED OWNERSHIP (Advertised price represents 25% share. Full market value £175,000). This good-sized flat is on the first floor and features a spacious reception room with semi-open-plan kitchen. There is a large main bedroom, a slightly smaller second bedroom and useful hallway storage. Energy-efficiency and environmental-impact ratings are excellent, thanks to modern insulation standards, high performance glazing and gas central heating. The flat comes with a parking space plus Rochester and Chatham town centres, for their train stations, shopping facilities and other amenities, can be easily reached by cycle or bus.

 

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [HERE; http://bit.ly/2GBvAQ9]

(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.)

 

Tenure: Leasehold (99 years from 2010)
Minimum Share Available: 25% (£43,750). The housing association will expect you to purchase the largest affordable share which may be more than the advertised minimum.
Shared Ownership Rent: £271.49 per month (based on 25% ownership). The rent is subject to annual review.
Service Charge: £108.06 per month. The service charge is subject to annual review.
Guideline Minimum Household Income: £15,700 assuming dual incomes and a 10% deposit of a 25% share. Equivalent single-income figure would be £18,100.
Council Tax: Band C, Medway (£1498.97 for 2019-20). Priority may be given to applicants that currently live and/or work in the Borough of Medway.

The property is offered for sale on a sold-as-seen basis. Clarion Housing do not offer any warranties on the domestic appliances in the property or undertake to carry out any remedial work or redecoration work of a cosmetic nature. Pets not permitted (except assistance animals).

Dimensions

Reception
16' 2" max. x 11' (4.93m x 3.35m)
Kitchen
10' 5" x 7' 5" max. (3.18m x 2.26m)
Bedroom ( Bedroom 1 )
17' 3" x 9' (5.26m x 2.74m)
Bedroom ( Bedroom 2 )
12' 5" x 9' 1" (3.78m x 2.77m)
Bathroom
Energy Effeciency Rating

Floorplans


Shared Ownership

WHAT IS SHARED OWNERSHIP ?
Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and the Homes and Communities Agency (HCA) outside of London.

IS SHARED OWNERSHIP FOR YOU ?
The GLA and HCA set the eligibility criteria for Shared Ownership, but broadly speaking you must:
 Not own another property in the UK or any other country.
 Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
 Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
 Be in full time permanent employment.
 Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
 Have a good credit history.
If you are still unsure about Shared Ownership or would like more information view [ Facts and Frequently Asked Questions]

Location

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