2 bedroom apartment for sale
Garstons Way, GU34 4BL
Share percentage 40%, full price £225,000, £4,500 Min Deposit.
Share percentage 40%, full price £225,000, £4,500 Min Deposit
Monthly Cost: £980
Rent £343,
Service charge £136,
Mortgage £501*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £80,000
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
** This home can also be purchased outright (100% of the value) which is £225,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £90,000 with a 40% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £90,000 with a 40% share!
A two bedroom ground floor apartment with allocated parking for two cars. The property provides well planned accommodation comprising entrance hall, bathroom, kitchen, two bedrooms and an 18ft reception room.
Garstons Way in Holybourne, a suburb of Alton in Hampshire, is conveniently located near a variety of amenities that cater to daily needs and leisure activities. The property is an approximate 4 minute drive from Alton Railway Station which provides regular services to London Waterloo (1 hour 20 minutes journey time) There are also various local bus routes connecting Alton to local villages and towns including Winchester, Guildford and Basingstoke.
PRICING & AFFORDABILITY
Full Market Value: £225,000
40% Share Price: £90,000 (rent £342.52pcm)
Minimum 5% Mortgage Deposit (% share): £4,500
Approximate Service Charges: £136.36 pcm*
Shared Ownership Lease: approx. 114 years
Council Tax Band: C
Key Features
Modern shared ownership home
Ground floor apartment
Two bedrooms
Separate kitchen
Long Lease
Two allocated parking spaces
Particulars
Tenure: Leasehold
Lease Length: 114 years
Council Tax Band: C
Property Downloads
Floor Plan 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
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 40%, full price £225,000, £4,500 Min Deposit. Calculated using a representative rate of 5.03%
