2 bedroom apartment for sale
12 Newland Gardens, BN18 9FF
Share percentage 75%, full price £240,000, £18,000 Min Deposit.
Share percentage 75%, full price £240,000, £18,000 Min Deposit.
Monthly Cost: £1,257
Rent £171,
Service charge £173,
Mortgage £913*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Shared ownership
Shared ownership is when you buy a share in the property of between 25 and 75 percent of its market value and pay rent on the share that you do not own. The exact percentage is subject to the individual criteria of each new development or scheme.
Most people put down a small deposit on their share (minimum 5 - 15%, depending on your mortgage lender) and take out a mortgage on the rest. You can then 'staircase' your share in the property - building up to 100% in most cases.
With reference to this property being sold, please note, the maximum % a purchaser can acquire is 80% of the property.
Register for shared ownership
You will need to register your interest via our website and complete an affordability assessment with one of our panel mortgage advisors.
Am I eligible?
Serving MOD, all first time buyers and social tenants will be given priority.
If your annual household income is more than £80,000 you will not be eligible.
You will also need £2,000 to cover the legal costs of buying a home, plus enough money saved for your deposit. You must not have loans exceeding £15,000 or be in mortgage/rent arrears. You must be able to obtain a mortgage and prove that you can pay your rent and service charges.
Applicants will be prioritised based on connections to the local area through work, family or past association with the village of Amberley.
Remember you will also have to pay household bills including gas, electricity and water.
Summary
Two-bedroom, ground floor apartment set in a semi-rural location.
Description
Two-bedroom, ground floor apartment for shared ownership resale purchase on a minimum share of 75% set in a semi-rural location.
The property is in good order and offers fitted kitchen, bathroom, two bedrooms, parking and private garden.
Purchase breakdown
Monthly charges apply. Within the current financial year from 1 April 2024 to 31 March 2025; these consist of the following (subject to final confirmation):
Shared Ownership minimum share of 75% £198,750
Monthly Rent: £171.23
Monthly service charge: £107.44
Monthly leaseholder charges: £65.91
EPC = D
Council Tax Band = C
Please note, the maximum % a purchaser can acquire is 80% of the property.
Applicants will be prioritised based on connections to the local area through work, family or past association with the village of Amberley.
Key Features
- Two-bedrooms
- Ground floor flat
- Parking
- Fitted kitchen with oven, hob and extractor
- Semi-rural Location
- Local connection required
- Shares available between 75% - 80%
- Good order throughout
Particulars
Tenure: Leasehold
Lease Length: 111 years
Council Tax Band: C
Property Downloads
Key Information Document Energy CertificateMap
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- Rent: This is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes).
- Service Charge: Covers maintenance and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 75%, full price £240,000, £18,000 Min Deposit. Calculated using a representative rate of 4.64%
