1 bedroom apartment for sale
Austen House, Station View, Guildford, GU1 4AN
Share percentage 25%, full price £280,000, £7,000 Min Deposit.
Share percentage 25%, full price £280,000, £7,000 Min Deposit
Monthly Cost: £1,244
Rent £733,
Service charge £158,
Mortgage £353*
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 Available On Shared Ownership in Guildford
Description
A fantastic opportunity to step onto the property ladder with this well-presented one-bedroom fourth-floor apartment in the sought-after Austen House, conveniently located in the heart of Guildford town centre. Available for shared ownership at a 25% share, this modern and stylish apartment offers an excellent balance of comfort, convenience, and contemporary living.
Key Features:
- Spacious Open-Plan Living: The generous kitchen/reception room (2.85m x 8.28m) creates a bright and welcoming space, perfect for relaxing or entertaining.
- Modern Kitchen: Fitted with a built-in oven, hob, and extractor fan, with space for additional appliances.
- Comfortable Bedroom: A well-sized double bedroom (3.44m x 3.63m) with carpeted flooring for a cosy feel.
- Stylish Bathroom: Featuring a modern suite with a shower over bath.
- Private Balcony: Enjoy outdoor space with a balcony accessed via the living area.
- Storage Solutions: Includes a storage cupboard and airing cupboard in the hallway.
- Allocated Parking: Secure parking space included.
- Communal Facilities: Access to bike storage, bin stores, and well-maintained communal areas.
- Excellent Location: Situated close to Guildford train station, shops, restaurants, and amenities, making it an ideal home for commuters and professionals.
Additional Information:
- Ownership: Leasehold - Remaining lease term 117 Years.
- Heating & Services: Communal heating system with mains electricity, water, and drainage.
- Council Tax Band: C
Shared Ownership Details:
- Full market value: £280,000
- Available share: 25% (£70,000)
- Monthly rent payable on the unowned share.
This is a fantastic opportunity for first-time buyers looking to secure a modern home in a prime location through shared ownership.
Particulars
Tenure: Leasehold
Lease Length: 117 years
Council Tax Band: C
Property Downloads
Energy CertificateMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Yes
Dishwasher: No
Fridge/Freezer: Yes
Parking: Yes - Allocated
Outside Space/Garden: Yes - Private Balcony
Year property was built: 2017
Unit size: 51m2
Accessible measures: Enquire with provider
Flooded within the last 5 years: No
Listed property: No
Heating: Enquire with provider
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 25%, full price £280,000, £7,000 Min Deposit. Calculated using a representative rate of 4.59%
