We are pleased to bring to the market this 2 bedroom Apartment Shared Ownership. It is situated in Bedford, Bedfordshire and is available now.

63 Palgrave Road, Bedford

Stonewater Homes are marketing this spacious shared ownership property on behalf of the vendor. This is a 2 bedroom second floor apartment that consists of an entrance hallway, large lounge, separate kitchen/diner with white goods, 2 double bedrooms, and a family bathroom. There is a 40% share available for £70,000 with the ability to purchase additional shares of up to 100%. Service charges and rent at the property amount to £430.06 per month. EPC rating is current ‘C’ with electric heating.

Externally, the apartment benefits from its own allocated parking space and visitor spaces.

The property is located within walking distance of the town centre, Bedford train station, and Bedford hospital.

As this property is a flat, please note that as a result of building safety regulations, some lenders are requiring certain properties to have a completed EWS1 form. An EWS1 (External Wall System) form provides independent assurance that your building meets the requirements of the Government’s latest standards.

Unfortunately, we have seen that some lenders may still wish to request this information even though it is not a legal requirement. Stonewater do not have an EWS1 in place for all buildings and should a mortgage lender require this, any purchase may be impacted. If an EWS1 is requested, whether one is required or not, Stonewater are committed to providing as much information as possible to satisfy a lenders request for an EWS1. We suggest you speak with a financial advisor before proceeding.

Further information about EWS1 and Stonewater’s position can be found at https://stonewaterhomes.co.uk/government-guidance-changes-for-EWS1

Viewings
Thank you for your recent interest in the above property. The seller is currently accepting viewings and if you would like to arrange a viewing, please contact the seller on the details below.

Seller Name: Elise McNamara

Seller Contact Details: elisesmaslen@gmail.com or Tel : 07854934500

As a shared ownership home, you will need to be eligible for Shared Ownership.

As a reminder, to be eligible for shared ownership you will need to evidence:

• your household income is £80,000 a year or less (£90,000 a year or less in London)
• you cannot afford all of the deposit and mortgage payments for a home that meets your needs
One of the following must also be true:
• you’re a first-time buyer
• you used to own a home but cannot afford to buy one now
• you’re forming a new household – for example, after a relationship breakdown
• you’re an existing shared owner, and you want to move
• you own a home and want to move but cannot afford a new home that meets your needs

Please take note of the minimum income, £30,390 and minimum deposit £3500 for this property.

If you make a successful offer to the seller after your viewing, they will let us know and we will then be able to refer you for a financial assessment with an Independent Financial Advisor. This is compulsory for all Shared Ownership purchases and does not interfere with any mortgage arrangements you have already made. They will complete an assessment but you are not obliged to use them afterwards to arrange your mortgage, but can if you wish.

Please let us know if you need any further information and good luck with your viewing.

‘Please note, the majority of our shared ownership homes undergo a rent review in April 2024.  The review will depend on the shared ownership lease, but the majority will see a 9.4% uplift to the rent.  We will confirm the exact changes to the rent for this property as part of the sales process.’