2 bed flat for sale

Kings Road, Stevenage, Hertfordshire SG1

Shared Ownership

This superb modern home is available to buy from as little as £164,500 with a 70% share!

This stylish penthouse apartment is located on the third floor of this modern development and accessed via a communal entrance leading through to an external courtyard and a private front door to the property itself. The apartment provides bright, spacious accommodation and impressive high ceilings. One entering the property, a modern open plan kitchen/dining/living space provides a warm welcome. The sleek gloss kitchen is fully fitted with appliances and there is ample cupboard and countertop space. An inner hallway provides access to the two well proportioned bedrooms and a modern bathroom. Doors open from the master bedroom on to a private balcony spanning the width of the apartment.

Outside, there is a barriered entrance and this apartment benefits from one allocated parking space and addition visitors parking is available.

The property is situated less than a 5 minute walk to Stevenage Town Centre & Train Station, providing access to a vast array of local amenities, and direct access to London Kings Cross within 21 minutes. Stevenage comprises both the New and Old Towns and is conveniently situated within easy access of the A1M offering easy access to London, the M25 and also to the North. Local road links provide access to adjacent towns including Hitchin, Letchworth, Baldock, Welwyn Garden City and Hertford.

Stevenage is currently undergoing a £1billion Regeneration Plan. The initial plan will include the development covering 14.5 acres of the town centre and introducing 11 new buildings including residential, leisure, community, commercial and retail facilities. The Historic High Street in the Old Town offers a good selection of shops, cafés/restaurants, public houses, a Library and two Doctor’s Surgeries. In addition, the area is well served by Lister Hospital and a good selection of local primary and secondary schools. The New Town currently provides a large pedestrianised shopping centre and retail parks together with the Gordon Craig Theatre, David Lloyd Health Club.
Pricing & affordability


Full Market Value: £235,000

70% Share Price: £164,500 (rent £211.17 pcm)
Minimum 5% Mortgage Deposit (% share): £8,225
Approximate Service Charges: £206.86 pcm*
Lease: 192 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 £235,000 and a purchaser would not need to meet the eligibility criteria listed above.