1 Bed Flat For Sale

This modern home is available under a share ownership scheme in partnership with Heylo and the price advertised is a 40% share of the full market value. A spacious second floor apartment forming part of purpose built block built in 2018. Situated on the popular Rosewood Park development in Little Common, West Bexhill with accommodation including; A communal entrance hall with stairs to the second floor. The spacious reception room features ample space for living room and dining room furniture. Double doors open out to the private balcony and the kitchen area features modern wall and base units with an integrated oven and hob, and space for additional appliances. The apartment has a double bedroom with an en-suite bathroom. Furthermore, there is a large storage cupboard and an allocated parking space. The 40% share to be purchased is £76,000, property value £190,000.

WHAT IS SHARED OWNERSHHIP - Under a shared ownership lease, the leaseholder buys a 'share' of the property and pays rent on the remaining share of the property which remains in the ownership of the landlord. The leaseholder can buy further shares in the property (at the market value of those shares at the time of purchase), until he or she owns 100%. Buying further shares is referred to as 'staircasing'. As the leaseholder buys further shares, the rent will be reduced proportionally to reflect the fact that the landlords interest in the property has reduced. The leaseholder is obliged to pay 100% of the ground rent & service charge.