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Clovelly House

Shared ownership

Station Road, Sidcup, DA15 7DZ

For sale
Shared ownership
Photo of Clovelly House
Live from space album cover

from

£118,000

with min. deposit

£11,800

40% Share from
£118,000
Full market price
£295,000
Minimum deposit
£11,800
Monthly rent
£352
Monthly service charge
£184.9
Annual ground rent
£150
Administration free
£500

1 bedroom flat

The property comprises a communal entrance with phone entry system, open plan dining and reception, fitted kitchen with integrated appliances, double bedroom, family bathroom with shower over bath, double glazing throughout and generous storage space. 

The property also benefits from access to a well-maintained communal garden and a off-street permit parking.

Length of Lease: Approx. 994 Years

Council Tax Band: Bexley Council - band B

Gross Internal Area: 45m2

 

FINANCIAL INFORMATION

Property Value = £295,000

Percentage Share = 40%

Share Price = £118,000

Monthly Ground Rent = £12.50

*Monthly Rent = £352.74 

*Monthly Service Charge = £184.90 

**Monthly …

Features

Communal Garden

Double Glazing

Bedrooms1
Bathrooms1
Reception rooms1
Furniture statusunfurnished
Floor area45
Number of floors1
Entrance floorGround floor
Tenureleasehold
Lease years994
EER Current78
EER Potential78

from

£118,000

with min. deposit

£11,800

40% Share from
£118,000
Full market price
£295,000
Minimum deposit
£11,800
Monthly rent
£352
Monthly service charge
£184.9
Annual ground rent
£150
Administration free
£500
Hyde New Homes

Hyde New Homes

FAQs

Shared ownership is a government-backed scheme, designed to make stepping onto the property ladder more affordable. You buy a portion of a home normally with a mortgage and a deposit, and pay a low-cost rent on the rest.

Read more on the Shared Ownership FAQ

Help to Buy is an equity loan scheme to help you buy a new home. If you have a 5% deposit and can cover 75% of the value of the home with a mortgage (or 55% in London), the Government will lend you up to the remaining 20% (40% in London) in the form of an equity loan that carries 0% interest in the first 5 years. This is available on a variety of new-build properties for first time buyers and is subject to the property price, the subsequent price cap in that region and the developer offering the option.

You can read more on the Help to Buy FAQ

The rules for shared ownership are different to a private purchase. In short, as long as you don’t currently own, or won’t own another property when you move in to a new home, you’re likely to qualify. Help to Buy is available to first time buyers only and the property value itself must fall below a price threshold for that specific area which varies in terms of the average house price in the region.

Read more about eligibility in the FAQ

Some properties require you to live or work in the local area in order to be eligible to buy them. By knowing the areas in which you live and work, we can make sure you see everything available to you.

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