1 bed flat for sale

Fairfax Lane, Royston, Hertfordshire SG8

Shared Ownership

This superb modern home is available to buy from as little as £86,000 with a 40% share!

A two bedroom second floor apartment with this purpose built block built in 2020. The property is immaculately presented and the accommodation comprises of an entrance hall with storage, large double bedroom, modern bathroom and a bright and spacious open plan kitchen/living room. Outside there is an allocated parking space and the property benefits from a long lease at 121 years.

Living in Royston offers several benefits, making it an attractive place for both families and professionals. Royston is well-positioned for easy access to major cities. It's just a short drive to London (about 45 minutes), Cambridge (about 30 minutes), and other towns in Hertfordshire and Bedfordshire. The town also benefits from excellent transport links, including a mainline railway station with direct services to London King's Cross, which makes commuting convenient. Royston has a good selection of local shops, restaurants, cafes, and other amenities. While it’s a small town, it offers plenty of conveniences for everyday living.
Pricing & affordability


Full Market Value: £215,000

40% Share Price: £86,000 (rent £360.44)
Minimum 5% Mortgage Deposit (40% share): £4,300
Approximate Service Charges: £54.42pcm*
Shared Ownership Lease: Approx. 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.