2 bedroom house for sale
Berrys Lane, Byfleet, KT14 7AU
Share percentage 40%, full price £400,000, £16,000 Min Deposit.
Share percentage 40%, full price £400,000, £16,000 Min Deposit
Monthly Cost: £1,453
Rent £593,
Service charge £52,
Mortgage £808*
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
Two Bedroom, Mid Terraced House Available on a Shared Ownership Scheme
Description
This charming two-bedroom mid-terrace house, constructed around 2015, is ideally located in a residential area close to West Byfleet, offering easy access to local shops, amenities, and transport links. The property is being sold on a shared ownership basis, with a 40% share available for £160,000 (full market value: £400,000).
Key Features:
- Ground Floor: Private entrance lobby, modern kitchen (2.460m x 4.762m), and a spacious reception room (3.314m x 6.562m).
- First Floor: Landing, two well-proportioned bedrooms (Bedroom 1: 3.314m x 3.783m, Bedroom 2: 3.305m x 2.622m), and a family bathroom with WC (2.200m x 1.497m).
- Outside: Private rear garden and an allocated parking space.
- Heating: Gas-fired radiator central heating and hot water.
- Flooring: Laminate flooring in the kitchen.
- Additional Features: Built-in oven, hob, and extractor fan in the kitchen.
The property is in good condition and benefits from a modern construction with stretcher bond brick, rendered and clad external elevations, and a pitched tiled roof. Located in a sought-after area, this home is perfect for first-time buyers or those looking to step onto the property ladder through shared ownership.
Don’t miss this opportunity to own a share in a well-maintained home in a desirable location.
Particulars
Tenure: Leasehold
Lease Length: 115 years
Council Tax Band: Not specified
Property Downloads
Energy CertificateMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Yes
Parking: Yes - Allocated
Outside Space/Garden: Yes - Rear Garden
Year property was built: 2015
Unit size: 69m2
Communal lift: No
Accessible measures: Enquire with provider
Flooded within the last 5 years: No
Listed property: No
Heating: Gas
Sewerage: Mains supply
Water: Mains supply
Electricity: Mains supply
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 40%, full price £400,000, £16,000 Min Deposit. Calculated using a representative rate of 4.59%
