Affordable over-60s flat with Lifetime Lease option and convenient town location.
One-bedroom second-floor retirement flat, 389 sq ft
Home for Life Lifetime Lease option reduces upfront cost
Approx 60 years remaining on lease — lender risk possible
Service charge c. £2,520 per year
Electric storage heating — potentially higher running costs
Communal garden; unallocated residents parking (availability varies)
Fast broadband and excellent mobile signal
Local area shows higher deprivation and elevated crime rates
This compact one-bedroom second-floor retirement flat suits an over-60 buyer looking to downsize into a low-maintenance home close to local amenities. The apartment is well presented, with a modern fitted kitchen, a light lounge/diner and a bedroom with practical proportions. Communal gardens and unallocated resident parking add convenience, while fast broadband and excellent mobile signal keep you connected.
The property is being offered under the Home for Life Lifetime Lease option, which can reduce the upfront cost (example guide price £70,500) depending on age and circumstances. That plan allows purchasing a share of the property value (up to 50%) to safeguard future equity — a useful feature for those prioritising financial flexibility in later life.
Buyers should note material constraints: the flat has only around 60 years remaining on the lease, which may restrict mortgage availability and affect resale. The annual service charge is substantial (about £2,520), and heating is by electric storage heaters which can be costly in winter. The immediate area scores higher on deprivation and crime statistics, so check local factors if security and neighbourhood profile are priorities.
Overall this is a practical retirement home for an older buyer who values location, connectivity and the Lifetime Lease savings model, and who accepts a smaller internal size and lease/charge considerations. All tenure, lease and service charge details should be checked with a solicitor prior to purchase.