Share Price £78,000 (from 30% Min. Share)

Full Value £260,000 | £3,900 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Guildford - Surrey

place POWER CLOSE, GU1 1EJ

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2 bed apartment in Guildford- perfect for the commute!


Eligibility

Minimum household income requirement: £28,207^

Application process: A financial assessment must be completed before any physical viewing can take place. This forms part of Home Group’s buyer approval process. These assessments are carried out remotely by The Mortgage People. Once you have confirmed an interest in purchasing a property, the contact details will be made available.

We will not carry out any credit checks or contact any reference agencies without your written consent.

Help to Buy Agent: In order to apply you must be registered with Help to Buy South https://helptobuyagent3.org.uk/user/. You will need to provide your HTB reference when completing the application process.

Current homeowners: Anyone who currently owns a home must have a sale agreed to apply.

Local connection: Applicants must have a local connection to Guildford.


Description

***Please quote POW406 when enquiring.***

- Introduction -

Tired of renting with nothing to show for it? This enviable two bed apartment with allocated parking and ideal location might just be the answer. A 30% share is just £78,000, can you afford to miss out?

You’ll be spoilt for choice with an abundance of convenience on your doorstep. Enjoy a sunny afternoon in the popular Stoke Park or evening dinner with friends in Guildford town centre. What are you waiting for?

- What the owner says -

“Spacious, bright and airy top floor flat benefitting from a newly fitted modern kitchen. Large loft space available for storage. Located within walking distance of local shops, Guildford town centre and award winning Stoke Park. Guildford mainline station offers regular services to London and the south coast.”

- Full description –

Shared ownership is a government backed scheme that can be a stepping stone to completely owning your own home. If you’re finding it difficult to save for a deposit this is a great option as the amount you’ll need is based on the share you’re buying.

Two-bed apartment (second floor)

Entrance hallway benefits from two storage cupboards and a telephone entry system.

Living room (6.0m x 3.1m) with dual aspect windows.

Kitchen (4.1m x 2.0m) recently refurbished in 2018.

Master bedroom (4.65m x 2.5m) and second bedroom (4.1m x 2.55m).

Bathroom (2.05m x 1.95m) has a bath with overhead shower.

Carpets are fitted to the living areas. The bathroom has laminate flooring and the kitchen is fitted with vinyl.

Neutral decoration throughout.

Electric wall mounted heating.

Well maintained communal garden.

Allocated parking space.

- Costs –

PRICE - £78,000*

RENT - £588.05pm

SERVICE CHARGE - £118.17**

*This represents a 30% share of the full open market value of £260,000

**This includes: management charge, service charge, building insurance and sinking fund. Rent and service charges are reviewed annually.

- General Information -

Tenure: Leasehold

Lease: 99 years from 1 August 2004

Years remaining on lease: 83 approx.

Approximate internal area: 59 sq. m.

Local authority: Guildford Borough Council

Council tax band: C

EPC rating: C (74)

- Terms, conditions and requirements -

Minimum household income requirement: £28,207^

Application process: A financial assessment must be completed before any physical viewing can take place. This forms part of Home Group’s buyer approval process. These assessments are carried out remotely by The Mortgage People. Once you have confirmed an interest in purchasing a property, the contact details will be made available.

We will not carry out any credit checks or contact any reference agencies without your written consent.

Help to Buy Agent: In order to apply you must be registered with Help to Buy South https://helptobuyagent3.org.uk/user/. You will need to provide your HTB reference when completing the application process.

Current homeowners: Anyone who currently owns a home must have a sale agreed to apply.

Local connection: Applicants must have a local connection to Guildford.


- Viewings -

In addition to the financial assessment, a virtual tour is required before any physical viewing can take place.

Virtual and physical viewings are held strictly by appointment - call today for more information.

Only those who have physically viewed the property are able to apply. If you have viewed and would like to apply please register your interest with the Resales Team.


Key Features

  • *£78,000 for a 30% share*
  • 30% share available under the shared ownership scheme
  • Viewing is highly recommended
  • Excellent starter home
  • Allocated parking
  • Guildford town centre is within easy reach
  • The commute is easy with the A3 and M25 nearby
  • You can purchase more shares up to 100% when the time is right for you

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Calculate Monthly Cost

Share price
£ 78,000
Min. £78,000
Share percentage
Min. 30%
Your deposit
Min. £3,900
Monthly cost*
£1,095
Cost breakdown
£588
Rent
£118
Service charge
£389
Mortgage*
Calculated using a representative rate of 3.94%
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Disclaimer

The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

  • 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 costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.


NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.