2 bed flat for sale

Long Park, Cranbrook. EX5

Check out this Shared Ownership Apartment (40%). This property features an open plan living space, two double bedrooms, bathroom and off-road parking.

Check out this Shared Ownership Apartment

This property features an open plan living space, two double bedrooms, bathroom and off-road parking.

The share purchase price is calculated using the full market value and the percentage share purchased.
If you buy a 40% share, the share purchase price will be £76,000 and the rent will be £294.96 a month.

If you buy a larger share, you'll pay less rent. The percentage share and rent amount will change depending on the amount you can afford. You'll receive a worked example after a financial assessment.
Your annual rent is calculated as 3.10% of the remaining share of the full market value owned by the landlord.

In addition to the rent above, the monthly payment to the landlord includes:

Communal internal cleaning - £5.34
Monthly Window cleaning - £1.85
Monthly Door entry system maintenance -£0.95
Monthly Fire system & mansafe maintenance - £28.01
Monthly Grounds maintenance - £12.36
Monthly Buildings Insurance - £8.29
Monthly Sinking Fund - £41.67
Monthly Communal Electricity - £6.86
Monthly Communal Water -£1.73
Monthly Water testing - £13.62

Total monthly payment excluding rent £104.64

Service charges will be reviewed annually with any changes coming into effect on the 1st April each year.

You'll need to pay a reservation fee of £250 to secure your home. When you pay the fee, no one else will be able to reserve the home.

If you buy the home, the fee will be taken off the final amount you pay on completion. If you do not buy the home, the fee is not refundable.

You can apply to buy the home if both of the following apply:

1. Your household income is £80,000 or less
2. You cannot afford all of the deposit and mortgage payments to buy a home that meets your needs
One of the following must also be true:
3. You're a first-time buyer
4. You used to own a home but cannot afford to buy one now
5. You're forming a new household - for example, after a relationship breakdown
6. You're an existing shared owner, and you want to move
7. You own a home and want to move but cannot afford to buy a new home for your needs

If you own a home, you must have completed the sale of the home on or before the date you Complete your shared ownership purchase.

As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.

Your rent will be reviewed each year by a set formula using the Retail Prices Index (rpi) for the previous 12 months plus 0.5%.

The landlord is unlikely to allow permission to keep pets in flats that form part of a block but exceptions can sometimes be made. All permissions must be sought prior to occupation.

You can rent out a room in the home, but you must live there at the same time.

You cannot sublet (rent out) your entire home unless you either:

1. Own a 100% share; or
2. Have your landlord's permission which they will only give in exceptional circumstances
and have your mortgage lender's permission if you have a mortgage

Tenure - Leasehold
Remaining Lease Term: 987 years

Council tax banding: B