This superb modern home is available to buy from as little as £48,000 with a 40% share!

This two bedroom second floor apartment offers over 700 square feet of space. The accommodation consists of an open plan kitchen/living room, two bedrooms and a bathroom. Further benefits include secure gated allocated parking and an extended lease on completion.

This property is located a short distance from Derby City Centre and its’ range of shops, restaurants and bars, and amenities.The River Derwent provides picturesque walks and there are many surrounding green spaces and parks.

PRICING & AFFORDABILITY

Full Market Value: £120,000

40% Share Price: £48,000 (rent £363.26pcm)
Minimum 5% Mortgage Deposit (40% share): £2,400
Approximate Service Charges: £222.74pcm*
Shared Ownership Lease: approx. 999 years
Council Tax Band: B

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

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

• Your annual household income does not exceed £80,000
• 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.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

** This home can also be purchased outright (100% of the value) which is £120,000 and a purchaser would not need to meet the eligibility criteria listed above.