Flat for sale in Shoreham-by-Sea BN43, 1 Bedroom

Outstanding three bed apartment with allocated parking space in Shoreham-by-Sea available on a Share Ownership basis.

Caravel Court by Southern Home Ownership is a stunning collection of one, two and three bedroom apartments located in the harbour town of Shoreham-by-sea, available on a Shared Ownership basis.

For most people, the idea of living in a prime coastal location, close to an historical riverbank and surrounded by all the facilities you need for a modern lifestyle, is a distant dream. For residents at Caravel Court, Shoreham-on-Sea, it's exactly what you can expect.

Living areas are open planned, light and spacious, while décor is attractive and understated. Every home boasts its own balcony where you can breathe in the fresh air. If you love the idea of riverfront living, Caravel Court is a once in a lifetime opportunity.

Shared Ownership allows you to buy a share in a home with a mortgage and savings or deposit. Whilst you only purchase a share, you live in your home as if you owned it outright. It's a government backed initiative that could be your stepping stone route onto the property ladder.

Eligibility Criteria:

Have a gross household income of no more than £80,000 per annum.
Are unable to purchase a suitable home to meet your housing needs on the open market.
Do not already own a home or you will have sold your current home before you purchase.

Price breakdown:
Full value: £357,500
Share: 25%
Share value: £89,375
Monthly Mortgage*: £502
Monthly Rent**: £614
Monthly Service Charge Estimate: £166

The mortgage rate is based on a 95% repayment loan over 25 years at an interest rate of 5% (this assumes you will be paying a 5% deposit). This figure is a guide only - you must obtain advice from a qualified advisor.**The monthly rent is calculated at 2.75% per annum of the value of the share that you don't purchase. Prices are based on a valuation carried out by a RICS qualified surveyor (valuations are subject to review).

Computer generated image and internal photography are intended for illustrative purposes only and should be treated as general guidance only.