Long Term Let • Council Tax Band D • Building Style: Modern • Smoking Allowed • Pets Allowed
Tenant Suitability:
Professionals
Other Rooms:
Bathroom
Features:
Shower • Secure Entryphone
Electric Goods:
Fridge Freezer • Washing Machine
This flat would be ideal for someone who would like to get onto the property ladder but can't afford to at the moment. To find out more, scroll down to the section labelled "How do the finances work"
ABOUT THE FLAT
Modern, spacious, centrally located flat with excellent transport connections and several amenities a short walk away.
This flat includes two large bedrooms, a large living room, a dining kitchen, a bathroom, and lots of storage space. The flat comes fully furnished and is in excellent decorative order.
There is an allocated parking space (the people who lived there before me said they got two parking spaces). There are frequent buses on your doorstep and it's a short walk to Haymarket station. There are two supermarkets which are open until late just around the corner, and a short walk through the Telfer subway brings you to a library and leisure complex including a cinema, bowling alley, restaurants, bars etc.
It's the sort of energy-efficient flat that will stay warm very easily at low cost.
HOW DO THE FINANCES WORK?
This is a half share flat, i.e. 50% owned by a housing association and 50% owned by you. So you would buy the flat (valued at £110,000, but I'm willing to take offers around £99,500) and pay rent on the half that you don't own. The rent is £188.16 per month, which is really very cheap.
You have the chance to buy the remaining half and fully own the flat whenever you like.
So if you would like to be a first-time buyer while house prices are cheap, then this is a great opportunity.
WHAT'S THE CATCH?
The housing association will only accept applications from people with an income between £20,000 and £27,026 for a single buyer and between £30,000 and £35,008 for joint buyers. This is because the rent is so cheap that you are effectively getting a subsidy from the government, and it wouldn't be fair if this was open to everyone.
Also remember that you are part-buying the flat, so you would have to get a mortgage.
NEXT STEPS
To arrange a viewing send an email - please to try to read this advert first though.
For questions about shared ownership - contact the housing association Dunedin Canmore (you can find further details by googling them - this website won't allow me to include web addresses in this advert)
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