2 bed flat for sale

Flat 69, Burgess House, 42 Sanvey Gate, Leicester LE1

Shared Ownership

This modern home is available to buy from as little as £78,000 with a 60% share!

Located on the third floor of this modern development is this spacious two bedroom apartment. The accommodation comprises entrance hall, two double bedrooms, bathroom and an open plan kitchen/living space. There is an allocated parking space and the lease will be extended on completion to 971 years. No onward chain

This property is located on the skirts of Leicester City Centre which provides a vast array of shopping amenities, restaurants, cafes and a lively nightlife. There are many cultural and entertainment facilities throughout the city as we as large parks and green spaces.
Leicester Railway Station provides links to major cities including London and Birmingham.
Pricing & affordability


Full Market Value: £130,000

60% Share Price: £78,000 (rent £350.87 pcm)
Minimum 5% Mortgage Deposit (60% share): £3,900
Approximate Service Charges: £207.72 pcm*
Shared Ownership Lease: Approx. 971 years (extended on completion)
Council Tax Band: A
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 £130,000 and a purchaser would not need to meet the eligibility criteria listed above.