2 bedroom apartment for sale
Flat 40 The Alders, RH14 9GU
Share percentage 40%, full price £230,000, £9,200 Min Deposit.
Share percentage 40%, full price £230,000, £9,200 Min Deposit.
Monthly Cost: £992
Rent £380,
Service charge £145,
Mortgage £467*
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, 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 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, electric
Summary
Two-bedroom Second Floor Apartment
Description
This two-bedroom second floor apartment is spacious and modern, situated in the village of Billingshurst it comes with with allocated parking, shared cycle storage, full fibre broadband and plenty of storage space.
Purchase breakdown
The minimum share of 40% can be purchased for £92,000.
For this financial year (ending 31 March 2025) a rent of £379.53 a month applies as well as a service charge of £144.98 a month.
Key features
Two bedrooms
Allocated parking space plus visitor parking
Excellent order throughout
Shared Cycle Storage
Pet friendly
Views of the South Downs
Council Tax Band = B
Key Features
- Two-bedroom apartment
- Excellent condition
- Modern bathroom
- Allocated Parking
- Shared cycle storage
- Views of South Downs
Particulars
Tenure: Leasehold
Lease Length: 114 years
Council Tax Band: B
Property Downloads
Key Information Document 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 40%, full price £230,000, £9,200 Min Deposit. Calculated using a representative rate of 4.64%
