Tenure
Knowing the tenure of the property is important because it affects your rights to use the property and the costs of ownership.
Freehold means you’ll own the property and the land it's built on. You'll usually be responsible for the maintenance of the property and have more freedom to alter it.
For flats and maisonettes, the freehold is sometimes shared with other properties in the same building. This is known as a share of freehold.
Leasehold means you'll have the right to live in the home for a set amount of years (specified in the lease). The landlord (the freeholder) owns the land, and if the lease runs out, ownership of the property will go back to them. Lease lengths that are less than 80 years tend to be more complicated and can cause issues with mortgage lenders.
You can extend a lease but this can be expensive. If you'd like to make changes to the property, you'll likely need the landlord’s permission. You're also likely to have to pay an annual amount for ground rent and services charges which can be subject to change. It is good practice to check additional leasehold costs that will apply to the property and factor this into your budget considerations.
Shared ownership is a form of leasehold in which you buy a percentage of the property and pay rent on the share you do not own. You may be able to buy the remaining share at an extra cost. When you wish to sell the property, you may need permission to do so.
Commonhold is a type of freehold ownership for a property that's within a development. A commonhold or residents’ association owns and manages the common parts of the property (like stairs and hallways). You'll need to join the commonhold association and contribute towards maintaining the development. It is good practice to check additional costs that will apply to the property and factor this into your budget considerations.
- Flats
- Allocated parking
Features and description
- Leasehold
- Ground Floor Apartment
- Ideal Purchase for first time buyer
- Entrance Hall
- Large Lounge/Dining Room
- Modern Kitchen
- 2 Bedrooms
- Re-fitted Bathroom
- Gas Central Heating
- Gardens to front & rear
- No chain
A good size 2 bedroom ground floor apartment in this popular location off Eastfield Road. The property benefits from gardens to the front & rear, gas central heating and modern kitchen and bathroom.
An entrance hall leads to the spacious lounge/dining room having full height windows to the front and central door leading to the garden. An open arch leads to the modern kitchen having built in oven and hob.
A large master bedroom leads off the lounge with full height window to rear, the second bedroom leads from the entrance hall.
The modern bathroom is fitted with a white suite having tiled walls and shower over bath.
Outside: A front garden is mainly laid to lawn with bordering shrubs. A shared path leads to the main entrance and rear garden, again laid to lawn with storage shed.
Ground rent £15.75 pa Buildings Insurance £282.62 pa
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