2 bedroom apartment for sale
Bridge House, Bridge Street, KT12 1AL
Share percentage 35%, full price £390,000, £6,825 Min Deposit.
Share percentage 35%, full price £390,000, £6,825 Min Deposit.
Monthly Cost: £1,681
Rent £741,
Service charge £162,
Mortgage £778*
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 £90,000.
• 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 £390,000 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 £136,500 with a 35% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £136,500 with a 35% share!
Located within easy reach of Walton, Hersham, Weybridge and Shepperton train stations, this ground floor home was built by the highly-regarded Shanly Homes in 2018 and is finished to an excellent specification.
The accommodation comprises entrance hall with storage cupboards, an open plan lounge/kitchen/diner, two bedrooms (en suite shower to bedroom one) and a bathroom. Externally is an allocated residents parking space within a gated area.
Walton-on-Thames town centre is less than ½ mile away and boasts an array of excellent brand shops and boutiques as well as a local cinema and fine dining. For commuters Walton mainline station is within 2 miles providing a direct service into London Waterloo. The A3 is within 5 miles for vehicular access to London, the South and both Gatwick and Heathrow airports.
PRICING & AFFORDABILITY
Full Market Value: £390,000
35% Share Price: £136,500 (rent £741.49pcm)
Minimum 5% Mortgage Deposit (35% share): £6,825
Approximate Service Charges: £162.12 pcm*
Shared Ownership Lease: approx. 119 years
Council Tax Band: D
Key Features
Modern Shared Ownership home
Ground floor
Gated allocated parking
Walking distance to train station
En suite
Open plan living/kitchen area
Particulars
Tenure: Leasehold
Lease Length: 119 years
Council Tax Band: D
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 35%, full price £390,000, £6,825 Min Deposit. Calculated using a representative rate of 5.26%