1 bed flat for sale

Admiral Drive, Stevenage SG1

Property features:
Allocated parking
Electric heaters
Fitted kitchen
Double glazing
Over-bath shower
Ability to own 100%

Kitchen: 2.40m x 2.20m

Living room: 3.05m x 5.20m

Bathroom: 2.15m x 2.00m

Bedroom: 3.30m x 3.65m

Purchase Requirements:
Be a first-time buyer or not currently named on a mortgage
Demonstrate you meet the minimum income requirements
Demonstrate a deposit sufficient to obtain a mortgage for the property
Have a local connection to the area

Costs:
Full Market Price: £185,000
Minimum Share: 30%
Share Value: £55,500
Monthly Rent: £285.58
Service Charge pcm (including buildings insurance): £155.31
Total Monthly Charge: £440.89
Next rental increase: April 2026

What is shared ownership?
Shared ownership is a scheme designed to help those who wouldn’t otherwise be able to purchase a home of their own. This may be because you can’t meet the full mortgage repayments, save a sufficient deposit, or both. With shared ownership, you buy a percentage of your home and pay a reduced rent on the share you don’t own

How does shared ownership work?
You will buy a percentage share of a home, independently priced at market value. Hastoe will charge you rent on the share you don’t own plus a service charge. This service charge covers things like buildings insurance and estate maintenance.

If you eventually own your home outright, you’ll no longer pay rent but may continue to pay a service charge and sinking fund.

About Hastoe:
Hastoe owns and manages over 7,500 homes in 70 local authority areas. Our properties are predominantly rural and we specialise in providing sustainable and affordable rural housing to enable local people to remain within their communities.