3 bedroom shared living/flatmate for sale

Overview

The Development This 3 bedroom 2ND floor over 55's apartment is located in the popular area of Bromford, Birmingham. The area has various local shops including convenience store, pharmacy & doctors surgery. It has great transport links to Birmingham City Centre, Erdington & The Fort Shopping Centre. The Property This is NOT a newbuild. This property briefly comprise of an Entrance Hall, Living Room, Kitchen including oven & hob, storage cupboard, bathroom with toilet and walk-in shower, 2 double bedrooms and one single room, and balcony off the living room. Additional benefits are communal gardens, communal lounge for residents, on site 24/7 assisted warden also Lifeline alarm system. There is no allocated parking. Prices £20,000 for a 25% share Monthly Rent on remaining share £137.50 £40,000 for a 50% share Monthly Rent on remaining share £91.67 Service Charge - A service charge will be charged against the property and is paid monthly with your rent payment. The service charge is reviewed on an annual basis on April 1st. This will include Buildings insurance, management and any communal/estate charges that may be covered (if applicable). The service charge is £190.36 pcm Ground Rent - Not applicable NEXT STEPS: 1. For further information, please download our brochure below. 2. TO APPLY NOW, please make an enquiry to contact Platform Home Ownership, the relevant sales consultant will then send you an application form to complete. 3. Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you. 4. Once you have passed the affordability assessment, we will then be in contact to confirm the availability. 5. If there is a suitable property we will then issue out your offer letter and advice on how to pay your £250.00 reservation fee for your new home. Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. It allows you to buy a share in a property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Over time, you can purchase more shares in your property - this is known as 'staircasing'. This can be done at any time after initial purchase and it will reduce the amount of rent you pay, as the share of the home that you do not own will have got smaller. We will offer shares between 25-75% of the property value depending on the outcome of the affordability assessment. The higher the share you purchase, the lower your rent will be. You will need to be able to obtain a mortgage for the share you want to purchase unless you have sufficient funds to enable you to purchase a share outright. Deposit amounts will be lower than purchasing a property on the open market also the combined cost of mortgage and rent is often cheaper than privately renting in the area. For more detailed information and your obligations in relation to shared ownership please download our 'Guide to Shared Ownership' Am I eligible? Shared Ownership uses the following criteria to help people to get onto the property ladder: - Maximum annual household income of £80,000. - Unable to purchase a home suitable for your needs. Please visit the Homes England website for further guidance using the Homes England Eligibility Checker. *Please note some images are typical and should be used as a guide only For more details and to contact: https://realtyww.info/rooms_1_birmingham-d196342/for-sale_i70753948

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