Buying a Property

The values of the apartments and bungalows generally reflect prices in the Court’s local property market.

All of the apartments and bungalows are long leasehold, having at least a ninety-nine year lease from the year of development, which can be extended. Apartments are re-sold from Owner to Owner with the benefit of the remaining unexpired portion of the original lease.

Normally, the purchase price of a property is met by the capital represented by a prospective purchaser’s existing home. Where there is a shortfall of up to £100,000, or 50% of the cost, whichever is the lesss, an interest only mortgage may be arranged with a reputable lender. In some circumstances, the interest on the mortgage is met by Government benefit.

For those people needing to sell their home prior to purchase and keen to move swiftly, the option of part exchange can be attractive as a means of avoiding the sometimes lengthy process of selling your home

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