3 Bedroom Maisonette Sold in Lytham St. Annes, FY8
| Reference | 25410 |
| Address |
18A Wood Street, Lytham St. Annes, Lancashire (Map Location) |
| Beds | 3 |
| Baths | 2 |
| Type | Maisonette |
| Tenure | Leasehold |
CHAIN-FREE, FULLY REFURISHED MAISONETTE, DINNING KITCHEN, LOUNGE, 3 DOUBLE BEDROOMS, BATHROOM AND EN-SUITE. IN THE HEART OF ST ANNES TOWN CENTRE. PURCHASE OUTRIGHT FOR £119,900 OR £59,950 VIA SHARED OWNERSHIP.
Description
Available on a shared ownership basis at £59,950 (see below for details)
This property has been completely refurbished to a very high standard and includes:
* Rewire, * Replumb * New Gas Central Heating * Luxury Carpets * Fully Double Glazed * Integrated Smoke Alarm
Private Entrance
Private external entrance porch on Wood Street leading into:
Entrance Hallway
Wooden door with opaque glazing leading into
Private Entrance
hallway, double radiator, cupboard housing meters and fuses, coving,
spindled staircase leading to first floor landing
First Floor Landing
First floor landing, staircase leading to second floor landing, coving,
doors to;
Dining Kitchen 10'0 x 13'5 (3.05m x4.09m)
Brand new and modern fitted kitchen; light wood with a granite effect laminate work surface.
Stainless steel sink with drainer,splash back tiling,
integral appliancesas follows;
Electric Oven and Grill
5 Ring Gas Hob with illuminated overhead extractor
Washing Machine, Tumble Dryer
Dishwasher
Space for Fridge Freezer.
UPVC double glazed window to rear elevation.
Ample space for dining table.
Opaque UPVC double glazed
window side elevation and double panel radiator.
Lounge 12'11 x 10'3 (3.94m x 3.12m)
Double glazed window to front elevation, coving, contemporary wall
mounted electric fire, double radiator, TV points
Bedroom Three 9'8 x 9'1 (2.95m x 2.77m)
Double glazed window to front elevation, coving, double radiator,
TV point
Bedroom Two 9'11 x 9'9 (3.02m x 2.97m)
UPVC double glazed window to rear elevation, coving, TV point
Second Floor Landing
Velux roof window, large illuminated under eaves storage cupboard, doors
to;
Bathroom/WC
Velux roof window, modern three piece white bathroom suite comprising:
Bath with overhead electric shower
Pedestal wash hand basin and WC.
Slate effect vinyl flooring
Wall mounted mirror
Wall mounted extractor fan
Bedroom Three 8'8 x 13'8 (2.64m x 4.17m)
Velux roof window, double radiator
Large built in wardrobe
Loft access hatch
TV and telephone points, door into:
En-Suite Bathroom comprising:
Velux roof window
Modern three piece white suite with:
Shower cubicle
Pedestal
Wash hand basin with wall mounted mirror and overhead light
W.C.
Towel and linen cupboard
Wall mounted radiator
Wall mounted extractor fan
Other Details
Tenure - Leasehold (residue of 999 years)
Tax Band - A
EPC Rating - 66
Shared Ownership:
Shared Ownership is a popular part-buy, part-rent scheme for people who can’t afford to buy a home with a commercially-available mortgage.
It’s backed by the government, and is a way to buy a share in a home now with the option to buy more of it in the future. You’ll need a minimum level of income/savings depending on the value of the home you want to buy.
How much will it cost at the start?
You will need to be able to pay the cost of the mortgage valuation or survey and legal fees. The minimum savings you need depend on the scheme you want to buy into.
You may also need to pay the cost of moving home and connection charges for gas and electricity supplies. In most cases, buying a home involves paying a deposit.
What are the monthly costs?
Every month you will need to make the following payments:
• Your mortgage repayment to your mortgage lender
• Your rent to Frinanco Property Management
• Council Tax
• Buildings insurance
Can I buy more shares in my home?
Yes, you can buy more shares in your home or buy outright whenever you can afford to. With some schemes you may have to live in your home for a year before you can buy more shares. This process is called staircasing. You don't need to buy the whole lot. You can acquire more shares in your home in small, manageable chunks.
You may be interested to know that buying outright may not cost as much as you think.
In many cases, the cost of monthly payments on a 100% mortgage are only marginally higher than the combined Shared Ownership mortgage and rent you currently pay.
The amount you pay for additional shares will be based on the value of your home at the time you staircase. When you buy more shares your rent will reduce, and if you buy outright you will no longer be required to pay rent.
What happens when I want to sell?
You can sell your share of your home at any time and an independent survey will decide what your property is worth. The property will be sold at the current market valuation. We will help you do this by looking for a possible buyer.
How do I get a mortgage?
Various lenders offer Shared Ownership Mortgages you simply need to apply.
What is the typical cost?
There is no such thing as a typical cost as there are too many “what-ifs” involved such as:
Size of deposit
Share of property required
Price of property
Length of mortgage
However, here is an example of a 3 bedroom, 2 bathroom newly converted apartment:
Purchase price: £120,000
Share price: 50%
Deposit of 10% £6,000
Mortgage required: £54,000
Monthly Mortgage repayment over 25 years at 4.9% = £316.00
Monthly Rent on shared ownership = £150.00
Monthly Service charge = £ 33.00
Total per calendar month: £499.00
To rent this example property would typically cost £625.00 per month.