1 bedroom apartment for sale
Skerne Road, KT2 5AD
Share percentage 50%, full price £310,000, £15,500 Min Deposit.
Share percentage 50%, full price £310,000, £15,500 Min Deposit.
Monthly Cost: £1,200
Rent £241,
Service charge £176,
Mortgage £783*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Eligibility Criteria for Shared Ownership
To qualify for a Shared Ownership home, there are a few key requirements you need to meet:
- Age: You must be at least 18 years old.
- Income: If you live outside of London, your total household income must be less than £80,000 per year. In London, the income cap is £90,000 per year.
- Property Ownership: You cannot currently own another home. Shared Ownership is mainly for first-time buyers, but if you do own a property (in the UK or abroad), you need to be in the process of selling it.
- Affordability: You should not be able to afford to buy a suitable home on the open market.
- Financial History: You must have a good credit history, with no outstanding debts or County Court Judgements (CCJs), and show that you can afford the payments and costs involved.
- Deposit & Costs: Typically, you’ll need a deposit of 5-10% of the share you're purchasing and access to around £4,000 to cover additional costs like legal fees and surveys, although this figure can vary.
Who Gets Priority for Shared Ownership?
Shared Ownership is available to anyone who meets the eligibility criteria, including first-time buyers, people looking to move up, downsize, or relocate. While there are no priority groups in areas where Shared Ownership homes are in short supply, military personnel and former members of the Armed Forces (discharged within the last two years) are given priority under government schemes.
In some cases, local authorities may require that applicants who live or work in the area be given preference, depending on local planning policies.
Affordability & Eligibility Check
Each applicant will need to complete an affordability and eligibility check with an independent mortgage advisor. Once you submit an enquiry, we will send you a link to start this process.
Summary
One-Bedroom Apartment on Skerne Road, Kingston Upon Thames – 50% Shared Ownership
Description
This modern one-bedroom apartment, located in the vibrant heart of Kingston upon Thames, is an excellent opportunity to step onto the property ladder with 50% shared ownership.
The home boasts a bright and spacious living area, a fully carpeted bedroom, and practical storage solutions with cupboards conveniently located in the hallway. The kitchen is thoughtfully designed with integrated appliances, including a built-in oven, hob, and extractor, an integrated fridge freezer, a freestanding washing machine, and a dishwasher. Lino flooring in the kitchen and bathroom ensures easy maintenance, while the cosy carpeted living room and hallway add a touch of warmth.
Other key features include gas central heating for year-round comfort and a secure video/audio door entry system, offering both convenience and peace of mind.
This apartment is ideal for first-time buyers or those seeking a comfortable, well-connected home. Don’t miss this fantastic opportunity to own a share of a home in a prime Kingston location!
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: C
Property Downloads
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 50%, full price £310,000, £15,500 Min Deposit. Calculated using a representative rate of 4.59%
