Haven Close, East Cowes
£48,000

Shared Ownership. This one bedroom chain free apartment is available to buy from as little as £48,000 with a 40% share. Further accommodation comprises kitchen, lounge, bathroom and separate wc. Allocated parking completes this lovely apartment.

PRICING & AFFORDABILITY. Full Market Value: £120,000. 40% Share Price: £48,000 (rent £165.00 pcm) / 50% Share Price: £60,000 and 75% Share Price: £90,000 Minimum 5% Mortgage Deposit (40% share): £2,400. Approximate Service Charges: £47.75pcm or £573.00pa* Lease: A new 125 year lease will be provided.

ELIGIBILITY - The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront 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. - You can purchase 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 owning 100% of your home. - To be eligible for this shared ownership home you would need to meet the following criteria: • Your 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. 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. - *Service charges are estimated and may subject to change. ** Property is 'sold as seen'

Lounge (4.53 x 3.73 (14'10" x 12'2"))

Kitchen (2.49 x 2.22 (8'2" x 7'3"))

Bedroom 1 (3.96 x 3.29 (12'11" x 10'9"))

Bathroom (2.28 x 1.63 (7'5" x 5'4"))

Cloakroom wc (1.74 x 0.90 (5'8" x 2'11"))

Parking
To the front of the property there is a driveway allowing off road parking for 1 car.

Outside
Communal store room and bin store

Tenure
Leasehold

Council Tax
Band A

Additional Information
Full Market Value - £120,000 - 40 % Share = £48,000
Lease Remaining - 125 Years from completion
Service Charge - £47.75pcm or £ 573.00 pa
Rent on 60% of remaining share - £165.00 pcm

Services
Mains water, drainage, electric and gas

Agents Notes
Our particulars are designed to give a fair description of the property, but if there is any point of special importance to you we will be pleased to check the information for you. None of the appliances or services have been tested, should you require to have tests carried out, we will be happy to arrange this for you. Nothing in these particulars is intended to indicate that any carpets or curtains, furnishings or fittings, electrical goods (whether wired in or not), gas fires or light fitments, or any other fixtures not expressly included, are part of the property offered for sale.