2 bedroom apartment for sale
Charter Place, 2 Orchard Way, RH19 1SW
Share percentage 50%, full price £225,000, £11,250 Min Deposit.
Share percentage 50%, full price £225,000, £11,250 Min Deposit.
Monthly Cost: £1,040
Rent £316,
Service charge £156,
Mortgage £568*
Calculated using a representative rate of 4.59%
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 (10 to 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.
Am I eligible?
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 - which will be from 10 to 15 per cent of the cost of your share, depending on your mortage lender.
You must not have loans exceeding £15,000 or 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 gas, electricity and water.
For more information get in touch with our sales team on 01403 226060
Summary
Two-Bedroom, Fifth Floor Apartment for Shared Ownership Resale
Description
A spacious two-bedroom fifth floor apartment with a large reception and two large bedrooms in a quiet location. The property located in East Grinstead within walking distance of the high street and train station and other amenities such as shops and bars. Benefits include a secure door entry system, communal gardens, cycle storage and lift access. The property offers a separate kitchen and unique bathroom with white bathroom suite.
A two-bedroom fifth floor apartment is now available at Charter Place in East Grinstead. The property has been recently refurbished in 2023 with a new kitchen, bathroom as well as new carpets and in ecellent condition.
Close to the high street, there are amenities close by with shops and bars as well as local public green spaces.
Key Features
Purchase breakdown
Monthly charges apply. Within the current financial year from 1 April 2024 to 31 March 2025; these consist of the following (subject to final confirmation):
Shared Ownership minimum share of 50% £112,500
Monthly Rent: £316.09
Monthly service charges: £156.13
EPC = D
Council Tax Band = C
- Two Bedrooms
- Separate Kitchen
- Secure Door Entry System
- Refurbished in 2023
- Top Floor with Forest Views
- New Carpets
- New Kitchen and Bathroom
- Communal Gardens
Particulars
Tenure: Leasehold
Lease Length: 110 years
Council Tax Band: C
Property Downloads
Key Information Document Floor Plan Brochure Energy CertificateMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: n/a
Outside Space/Garden: n/a - Communal Garden
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
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 £225,000, £11,250 Min Deposit. Calculated using a representative rate of 4.59%
