Apartment for sale in Birmingham, England

SUMMARY Have you visited the brand-new Mansion House show apartment at Port Loop yet? Call our Shared Ownership team today to arrange your appointment to view and discuss the range of Shared Ownership options available with minimum deposits required as low as £2000. DESCRIPTION Welcome to Mansion House, Birmingham’s newest canal side apartments, located at the award-winning Port Loop development. Designed by shedkm architects, these modern two-bedroom homes offer spacious and bright living areas, with large windows and high ceilings that flood the interiors with natural light. Each apartment features a private balcony, generous living spaces, and a dual-aspect design. Our two bedrooms apartments at Mansion House are also available to buy through the government-backed Shared Ownership scheme, with prices starting from £177,000 based on a 60% share. Apartments available - Plot 201 & 202 Price example - Full market value - £295,000 60% share price - £177,000 Rent per month based on a 60% share - £270.42 Service charge per month - £180.94 (approx) Shared Ownership management fee - £128 per annum Minimum deposit required - £8850 (subject to affordability check) £177,0 Port Loop Community: Situated in a vibrant community, Mansion House offers easy access to local amenities, parks, shops, and cultural attractions. Nestled between Birmingham Canal Old Line and the Birmingham Canal, Port Loop is just a 15-minute walk from Birmingham city centre. Its island location was once the industrial heart of the city, so the tow paths that served it provide superb, direct routes to the city centre. You can go by foot or jump on a bike. This is more than just a home; it's a lifestyle that values sustainability and neighbourly connections. Shared Ownership If you’re eligible, you can apply for the Shared Ownership property that you’d like to buy. It’s easier than you may think; you purchase a share of between 25-75% of your new home, using your deposit and a mortgage, and pay subsidised rent on the remaining share. The other part of the home is owned by a housing association or housing development company, like Places for People, this is who you’ll pay rent to, and Shared Ownership homeowners can buy more shares in their property later, if you wish, in some instances up to owning 100% of your home. This is called ‘staircasing’. The more shares in the property you own, the less rent you need to pay on the remainder. With Shared Ownership, the lower deposit and mortgage repayments helps people get onto the property ladder sooner, rather than later. Eligibility In order to buy a home under a Shared Ownership scheme, you need to meet the eligibility requirements, as well as pass the affordability checks. Who is eligible for Shared Ownership? -You need to have a household income of under £80,000 a year (or £90,000 in London). -You need to not be able to afford a home with a standard deposit and mortgage that meets your needs. -You also usually need to meet one of these requirements: -Be a first-time buyer. -Not currently a homeowner, or cannot afford to buy a home that meets your needs through a standard purchase. -Already a homeowner (this could be through Shared Ownership), who wants to sell their current home. -You will need to have a deposit (at least 5% of the share you want to buy) and, if not a cash buyer you should be able to take out a mortgage for the remaining cost of your share. You’ll need to find out if you’re able to take out a mortgage for the amount needed. This will depend on your income, affordability checks and your credit history. Every lender has their own criteria and ways in which they measure affordability and the ‘risk’ level of applicants. Our independent financial advisors are Shared Ownership specialists, so with Places for People you’re in good hands. Agent Notes Photos shown within the listing are of the show home at Mansion House. Please note the Shared Ownership layouts may differ and are used for indicative purposes. Lease details are currently being compiled. For further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs. 1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2: These particulars do not constitute part or all of an offer or contract. 3: The measurements indicated are supplied for guidance only and as such must be considered incorrect. 4: Potential buyers are advised to recheck the measurements before committing to any expense. 5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances. 6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor. Brochures Full Details

Apartment for sale in Birmingham, England

2 bedroom apartment for sale

Description

Need Broker Assistance?