1 bed flat for sale

Acorn Lodge, 1 Pascal Mews, Oakgrove MK10

Shared ownership (Advertised price represents 75% share. Full market value £200,000). This smartly-presented flat is part of a substantial development in the Oakgrove suburb between Willen Lake, to the north, and Ouzel Valley Park to the south. The recently-redecorated, ground-floor property has a dual-aspect reception room with newly-fitted carpet and a door that leads out to a small, south-west-facing balcony/patio area. The open-plan kitchen features sleek units with integrated fridge/freezer and dishwasher. There is a good-sized bedroom with fitted wardrobe and a stylish, naturally-lit bathroom. Well insulated walls and floor combined with high performance glazing makes for a very good energy-efficiency rating. The flat comes with use of a parking space, there are shops, including a Waitrose supermarket, nearby plus both the Kingston Centre and the heart of Milton Keynes can be reached by brief bike ride.

Interested parties are required to complete the shared ownership common application form [ ]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Clarion.
Tenure: Leasehold (125 years from 01/01/2018).
Share Available: 75% (£150,000).
Shared Ownership Rent: £148.73 per month (subject to annual review).
Service Charge: £126.47 per month (subject to annual review).
Ground Rent: £150.00 for the year.
Guideline Minimum Income: Dual - £33,200 | Single - £39,400 (based on minimum share and 10% deposit).
Council Tax: Band A, Milton Keynes City Council. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets may be permitted but only with prior consent from Clarion (which, unfortunately, can only be obtained once you are the property owner).

What is shared ownership ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (gla) in London and Homes England outside of London.

Is shared ownership for you ?

The gla and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or eea Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.

Reception

22' 6" x 11' 1" max. (6.85m x 3.38m)

Kitchen

Included in reception measurement

Bedroom

13' 11" max. X 8' 11" max. (4.23m x 2.71m)

Bathroom

8' 0" x 6' 5" max. (2.44m x 1.96m)