2 bed flat for sale

Bridge Road East, Welwyn Garden City, Hertfordshire AL7

Shared Ownership

This superb modern home is available to buy from as little as £172,500 with a 50% share!

A bright and spacious two bedroom, two bathroom first floor apartment located in Welwyn Garden City and within a close range of local amenities. This beautifully presented home provides well planned accommodation comprising entrance hall, a beautiful open plan kitchen/living/dining space with access to a private balcony, two large bedrooms (master with ensuite shower room) and a further family bathroom. Outside, there is an allocated parking space, communal bike store and gardens. The lease is in excess of 120 years.

This property is conveniently located on the skirts of Welwyn Garden city and a variety of amenities, shops and eateries and is bordered by green spaces. You can reach Welwyn Garden City station in under 5 minutes by car which provides links to London’s Kings Cross.
Pricing & affordability


Full Market Value: £345,000

50% Share Price: £172,500 (rent £476.15 pcm)
Minimum 5% Mortgage Deposit (% share): £8,625
Approximate Service Charges: £117.94 pcm*
Lease: 120 years
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 £345,000 and a purchaser would not need to meet the eligibility criteria listed above.