1 bed flat for sale

South Central, Birmingham B5

Summary
Join Connells New Homes at our Open day on Saturday 17th May to view a selection of First Homes apartments available to purchase at the landmark South Central development. By appointment only - call our team today to book your appointment.

Description
South Central offers just a small selection of one & two bedroom apartments available to purchase via the First Homes scheme.

These apartments are situated within the brand new landmark 30-storey building. There are a range of facilities shared across the whole development to create a unique sense of community, including a concierge, community room, a gym, and a roof terrace area.

Residents have a secure entrance with access to the building's post room and a secured pick-up area for added convenience. There is an internal bike storage that can accommodate around 76 bikes.

The property has excellent future connectivity via the metro system to other key transport hubs and locations around the city. The development is in the Southside area of Birmingham, enjoying an excellent city centre location with primary access via Bristol Street/ Suffolk Street Queensway.

These apartments have a 250 year leasehold, peppercorn ground rent (£0), and are ready to view and move into now.

Plots Available
plot 2/ plot 3 / plot 4 / plot 7 / plot 8
One bedroom apartments
439 sqft

Price Example For First Homes
Full market value - £220,000
70% discount market value - £154,000
No rent payable on the 30% share not owned
Service charge per annum - £1,275.49

First Homes Scheme Explained
The First Homes scheme is a policy that provides discounted homes to eligible buyers in England who otherwise wouldn't be able to afford one.

Under this scheme, first-time buyers can buy a new-build home at South Central, at a discount of 30% on the homes full market value.
These properties must be purchased by first-time buyers. If buying as a couple, neither partner can have previously owned a home. Otherwise, the properties are bought and sold as normal.
If and when the first-time buyer decides to sell the property, the home will be independently valued, and the scheme discount will be re-applied to this new value for the next owner.

The following criteria apply to all purchasers involved in buying the home:

You must be a first-time buyer.
You'll also need to buy within your local area, with the intention of living in the property (it cannot be a holiday home or buy-to-let).
Your combined income must not exceed £80,000.

The scheme requires first time buyers to purchase their property that covers at least half of the purchase value. With the discount in place, the mortgage requirement will be lower.

How To Apply
Contact Connells New Homes: Let us know you're interested in buying a First Home. You will be expected to complete an affordability assesment with our friendly mortgage advisors who will assess your affordability to purchase.

Apply through the developer: Our advisors will take you through the necessary steps to submit your application and we are able to do this on your behalf. This will include proving that you are a first-time buyer, which a solicitor can do for you through land registry searches. You need to pay a fee if the First Home you want to purchase is a new build. Once the application is successful the fee payable is £500.

Get the authority to proceed: If your application is successful, Birmingham City Council will send you an Authority to Proceed and Eligibility Certificate. You'll need to give these to your solicitor and mortgage provider (or broker) so that they can start next steps.

Agents Notes
Prices are currently undergoing a RICS review. Prices are subject to change. Please consult a sales consultant prior to reserving.*

We currently hold lease details as displayed above, should you require 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.