Shared Ownership

This superb modern home is available to buy from as little as £119,000 with a 35% share!

A unique duplex apartment occupying the third and fourth floors of this modern development just a short distance of Welwyn City Centre. Offering just under 840 sq ft of accommodation comprising entrance hall, kitchen, downstairs WC and a spacious living room with doors to a balcony on the first floor. On the second floor there are two spacious double bedrooms and two bathrooms. Further benefits include a lease of 116 years and an allocated parking space.

Empire House sits just a short drive from of the town of Welwyn Garden City which offers a wide range of amenities and shops including John Lewis, Waitrose and the Howard Centre. The town has a mainline railway station with fast and frequent services into London Kings Cross and Moorgate. Providing good transport links via road is the A1(M) which is within easy access. Sports clubs, Gosling Sports Park, Stanborough Lakes and The Campus West for theatre, cinema and library are also situated within close proximity of the property.


PRICING & AFFORDABILITY

Full Market Value: £340,000

35% Share Price: £119,000 (rent £688.72 pcm)
Minimum 5% Mortgage Deposit (35% share): £5,950
Approximate Service Charges: £169.09 pcm*
Shared Ownership Lease: approx. 116 years
Council Tax Band: D

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 £340,000 and a purchaser would not need to meet the eligibility criteria listed above.
Service Charge: 2029.08.