£65,000
South Street, Scarborough
- 1 bed
£65,000
- 1 bed
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Minimum deposit amount:To get a mortgage for a property you will typically need a minimum of 5% of the property value as a deposit. Our broker will be happy to talk through your options and everything else you need to secure a mortgage
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The freehold is held by a management company in which a new owner would have 20% share giving real influence over the management of the block, but effective day-to-day management is carried out by a local firm appointed by that company. A service charge of around £80per calendar month covers insurance of the fabric, cleaning and maintenance of shared parts of the building including fire safety. Service charge arrears on the part of the owner of two units in the block currently limits work to essential maintenance but once this issue has been resolved there will be scope for a programme of general improvement.
Prohibition orders prevent occupation of these two units but other flats and communal areas are unaffected, Resolution of this issue will of course lead to renovation of these units to the benefit of the block as a whole. The property is in a local authority licensing area giving the local authority powers to regulate the occupancy, use and condition of all properties in the area in order to enhance local community alongside improvements in the built environment.
Within five minutes walk you can access the local shopping center, bars offering entertainment, the Esplanade with its stunning views of the harbor and the castle benefiting from lift to the beach and the spa. Within 100m is the church of St Martins with its celebrated collection of artistic treasures and delightful cafe, in a distinguished architectural setting currently benefiting from significant refurbishment.
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