2 bedroom apartment for sale
Trenchard Close, KT12 5BG
Share percentage 40%, full price £340,000, £6,800 Min Deposit.
Share percentage 40%, full price £340,000, £6,800 Min Deposit.
Monthly Cost: £1,429
Rent £510,
Service charge £161,
Mortgage £758*
Calculated using a representative rate of 5.03%
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 £340,000 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 £136,000 with a 40% share!
Description
Offered to the market with no onward chain complications and situated within idyllic Hersham Village is this two bedroom top floor apartment. This home is immaculately presented throughout and the accommodation comprises a bright living/dining area which is open plan with a fitted kitchen including a pyrolytic oven, two double bedrooms and a bathroom. The apartment benefits from ample storage, secure entry phone system and an allocated parking space.
Hersham Village benefits from various amenities including a Post Office, Pharmacy, Bakery and Hersham Green shopping Centre as well as open green space and a play area. Walton-on-Thames train station is within walking distance of the property with a journey time of approximately 25 minutes in to London Waterloo.
PRICING & AFFORDABILITY
Full Market Value: £340,000
40% Share Price: £136,000 (rent £510.06pcm)
Minimum 5% Mortgage Deposit (40% share): £6,800
Approximate Service Charges: £161.25pcm*
Shared Ownership Lease: approx. 88 years
Council Tax Band: C
Key Features
Modern shared ownership home
Two double bedrooms
Second floor
Open plan kitchen/living/dining space
Allocated parking
No onward chain
Particulars
Tenure: Leasehold
Lease Length: 88 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 40%, full price £340,000, £6,800 Min Deposit. Calculated using a representative rate of 5.03%
