3 bedroom house for sale
56 Hammonds Ridge, RH15 9QQ
Share percentage 30%, full price £395,000, £11,850 Min Deposit.
Share percentage 30%, full price £395,000, £11,850 Min Deposit.
Monthly Cost: £1,401
Rent £749,
Service charge £51,
Mortgage £601*
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.
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 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 be in mortgage/rent arrears. You must be able to obtain a mortgage and prove that you can pay your rent and service charges.
Remember you will also have to pay household bills including council tax, gas, electricity and water.
Summary
Three bedroom Semi-detached House
Description
This is a bright and spacious property, perfect for modern family life. A contemporary kitchen/diner has patio doors opening onto the private garden, making the space feel light and open. There is a good-sized lounge to the front of the house and a WC off the hall. Upstairs, a large master bedroom features an en suite bathroom with walk-in shower. A further double bedroom and third smaller bedroom, together with a modern family bathroom complete this home. Outside, the property benefits from two allocated parking spaces and private garden.
Purchase breakdown
Monthly charges apply. Within the current financial year from 1 April 2024 to 31 March 2024; these consist of the following (subject to final confirmation):
Shared Ownership minimum share of 30% £118,500.00
Monthly Rent: £748.70
Monthly service charge: £26.17
Monthly leaseholder charges: £25.29
EPC = B
Council Tax Band = D
Key Features
- Three bedroom semi-detached house
- Share starts from 30%
- Fitted kitchen with integrated appliances
- Downstairs WC
- En-suite to main bedroom
- Front and Rear Garden
- Two allocated parking spaces
- Near town centre location
- Close to mainline train services and A23
Particulars
Tenure: Leasehold
Lease Length: 120 years
Council Tax Band: D
Property Downloads
Key Information Document Floor Plan Brochure 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 30%, full price £395,000, £11,850 Min Deposit. Calculated using a representative rate of 4.64%
