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2 Bedroom Flat

Flat 5, 5 Austen Way, St Albans, AL4

£ 148,000

Call the Shared Ownership branch on 02380 820 121

Features:

  • Brand new Shared Ownership home
  • Open plan lounge/kitchen/diner
  • Allocated parking
  • Two double bedrooms
  • Walking distance to train station
  • Close to local amenities

 

Property Description:

*** SHARED OWNERSHIP ***

This brand new apartment is available for sale on a part-buy, part-rent basis from as little as £148,000 for a 40% share.

The accommodation includes allocated parking and comprises: entrance hall, a `London-style' open plan lounge/kitchen/diner, two bedrooms and a bathroom. The shared ownership apartments are located on the ground, first and second floor.

Some of the specification included as standard with these homes are: Integrated oven, hob and extractor hood, `Regency' carpet in living area and bedrooms, premium vinyl in kitchen, bathroom and WC and Ideal Logic Code Combi boiler.

The homes at Kingsbury Gardens are ideal for those looking for access to central London as well as open countryside to explore. They are located between the A1, M1 and M25, with local rail links allowing access to central London in approximately 40 minutes. St Albans City station is within walking distance, approximately 1.5 miles away.

There are a range of primary and secondary school located on your doorstep, as well as multiple local shops, parks and amenities to keep you busy!

PRICING & AFFORDABILITY

Approximate size: 72 sq m

Full Market Value - £370,000

40% Share Price: £148,000 (Rent £508.75pcm)
50% Share Price: £185,000 (Rent £423.96pcm)
75% Share Price: £277,500 (Rent £211.98pcm)

Min 5% Mortgage Deposit (40% share): £7,400

Service Charge - £89.60 pcm

*Service charges and rent will vary depending on the unit, please enquire.

To be eligible for shared ownership you would need to meet the following criteria:

' Your household income does not exceed £80,000 (outside of London) and £90,000 (inside of London)
' 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.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you'd expect to pay if you bought a similar property outright.

At Kingsbury Gardens you can buy a minimum 40% share of your home (the maximum you can buy initially is 75%). When you're ready, you can buy more shares until you staircase to owning 100% of your home.

*Service charges are estimated and may subject to change.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

Leaders Romans Group are selling the homes on behalf of Sage Housing. Sage Housing is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Housing visit www.sagehousing.co.uk.

 

Call the Shared Ownership branch on 02380 820 121