2 bedroom apartment for sale
Cardinal House, Jubilee Hall Road, GU14 7NP
Share percentage 50%, full price £200,000, £5,000 Min Deposit.
Share percentage 50%, full price £200,000, £5,000 Min Deposit.
Monthly Cost: £1,168
Rent £432,
Service charge £166,
Mortgage £570*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
** This home can also be purchased outright (100% of the value) which is £200,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £100,000 with a 50% share!
Description
Shared Ownership - EXTENDED LEASE
This superb modern home is available to buy from as little as £100,000 with a 50% share!
Being offered to the market with no onward chain and available immediately is this 2nd floor modern apartment. Situated just a short walk from Farnborough train station and within driving distance of Farnborough airport, the apartment features and open plan lounge/diner with access through to a fitted kitchen, two bedrooms, bathroom and an allocated residents parking bay. As part of the sale, the lease is being extended by the current owner to around 972 years.
Farnborough is situated in northeast Hampshire, close to the Surrey border. The town offers excellent transport links and is located thirty-five miles southwest of London, directly to the south of junction 4 of the M3 motorway. Farnborough is served by three railway stations, Farnborough Station on the mainline from London Waterloo, Farnborough North and North Camp Stations which are both on the line between Reading and Gatwick.
Since 2003 Farnborough Airport has been an international business airport operated by TAG Aviation. The Farnborough International Air Show takes place at the airport on even numbered years. Farnborough has excellent shopping facilities and a multiplex cinema complex. Nearby, The Meadows has superstores including Marks & Spencer and Next.
PRICING & AFFORDABILITY
Full Market Value: £200,000
50% Share Price: £100,000 (rent £431.70pcm)
Minimum 5% Mortgage Deposit (% share): £5,000
Approximate Service Charges: £165.54pcm*
Shared Ownership Lease: approx. 972 years (being extended by current owner as part of the sale)
Council Tax Band: C
Key Features
Modern Shared Ownership home
No onward chain
Extended lease (over 900 years)
Second floor
Short walk from Farnborough train station
Close to local amenities
Particulars
Tenure: Leasehold
Lease Length: 972 years
Council Tax Band: C
Property Downloads
Floor PlanMap
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 50%, full price £200,000, £5,000 Min Deposit. Calculated using a representative rate of 5.26%
