1/11
£110,000
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.
Description:
Situated in the heart of Walton-On-Thames, this modern one-bedroom flat offers a perfect blend of comfort and convenience. Located on the fourth floor of a well-maintained purpose-built block, the property benefits from a spacious open-plan living and kitchen area, a bright double bedroom with built-in wardrobe, and a contemporary bathroom with a shower over the bath. A standout feature is the large private roof terrace, ideal for outdoor relaxation or entertaining.
Key Features:
- One double bedroom with built-in wardrobe
- Open-plan living area with modern kitchen
- Built-in oven, hob, and extractor fan
- Freestanding washing machine and fridge/freezer
- Spacious bathroom with shower over bath
- Generous private roof terrace
- Approximate internal area: 47 m²
- Double-glazed aluminium windows
- Electric central heating system
Additional Information:
- Council Tax Band: C
- Flooring: Tile in the kitchen and bathroom, carpet in the living room, bedroom, and hallway
- Secure video door entry system
Location:
Colwell House enjoys a prime location with a mix of residential and commercial surroundings. Walton-On-Thames town centre, local amenities, and excellent transport links are easily accessible. The property’s proximity to shops, restaurants, and leisure facilities makes it an ideal choice for first-time buyers or professionals.
Tenure:
Leasehold - 84 years remaining.
Shared Ownership Details:
40% share available for £110,000
You can add locations as 'My Places' and save them to your account. These are locations you wish to commute to and from, and you can specify the maximum time of the commute and by which transport method.