2 bedroom apartment for sale
165 Kingston Road, New Malden, KT3 3NA
Share percentage 67%, full price £350,000, £23,450 Min Deposit.
Share percentage 67%, full price £350,000, £23,450 Min Deposit
Monthly Cost: £1,492
Rent £192,
Service charge £116,
Mortgage £1,184*
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
Spacious and Modern Two Bedroom Apartment
Description
Spacious two bedroom, fifth floor flat forming part of a modern development conveniently located close to New Malden High Street
Viewings available now
Key Features
- Gross internal floor area approximately 43sqm
- Spacious open plan kitchen/living room
- Modern fitted kitchen with built in oven, hob and extractor. And freestanding dishwasher. Laminate flooring
- Storage cupboards by the entrance
- Two bedrooms with ample space for furniture and storage
- Gas central heating
- Video door entry phone system
- Lift
- Approximately 105 years remaining on the lease
- Car parking space available at extra cost of £5.65 per month
- Excellent transport links—only 25 minutes to London Waterloo
- Easy access to nearby Kingston upon Thames, which has extensive amenities
Particulars
Tenure: Leasehold
Lease Length: 105 years
Council Tax Band: C
Property Downloads
Energy CertificateMap
Material Information
Total rooms:
Furnished: Unfurnished
Washing Machine: Enquire with provider
Dishwasher: Yes
Fridge/Freezer: No
Parking: Yes - Rear
Outside Space/Garden: n/a
Year property was built: 2008
Unit size: Enquire with provider
Communal lift: Yes
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 67%, full price £350,000, £23,450 Min Deposit. Calculated using a representative rate of 4.59%
