Share Price £112,000 (from 35% Min. Share)

Full Value £320,000 | £5,600 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Guildford - Surrey

place The Cloisters, 83 London Road, GU1 1FY

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2 bed apartment perfectly placed in Guildford


Eligibility

- Terms, conditions and requirements -

Minimum household income requirement: £32,622^

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.

Pets: Pets are not permitted in buildings with communal areas.

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

Priority: Priority is given to those nominated by Guildford Borough Council and those with a local connection to Guildford.


Description

***Please quote CLO672 when enquiring.***

- Introduction -

Looking to step onto the property ladder? Struggling to save for a deposit? This enviable two bed apartment in the popular Burpham Village might be the answer and is too good to miss! The property benefits from allocated parking, communal gardens and secure bicycle storage. With easy access to public transport, A3 and M25, this property could be perfect for you!

- What the owner says -

“From all windows you can see the communal gardens and parking. You can also see Burpham Shopping Parade which has a range of local services.

Ideally located, close to Guildford Town Centre and 5 minutes’ drive to London Road Station. Very good transport links to London and surrounding areas as well as being within walking distance to open spaces and parks.

The flat is very light and airy and eaves windows give it character. Both bedrooms are a good size and the kitchen/living room is open plan which is good for entertaining. Modern-style bathroom, a generous central corridor and comes with one allocated parking space. The flat is situated in a development with well-presented gardens as well as a children’s play area.”

- 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 second floor apartment.

Entrance hallway with telephone entry system and storage.

Open plan kitchen/living room benefits from dual aspect windows looking out onto the communal gardens. Kitchen has integrated electric oven, gas hob, and extractor fan.

Master bedroom is a double and second bedroom a good size single, both have windows overlooking the communal gardens.

Bathroom has bath with overhead shower, wash hand basin and WC. Walls are partially tiled and has a wall-mounted mirror.

Fitted carpets fitted to living areas and bedrooms. Vinyl laid to the kitchen and bathroom.

Gas central heating

Well maintained communal garden and children’s play area.

Single allocated parking space.

- Costs –

PRICE - £112,000*

RENT - £484.97pm

SERVICE CHARGE - £108.52pm**

*This represents a 35% share of the full open market value of £320,000

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

- General Information -

Tenure: Leasehold

Lease: 99 years from the 1st September 2007

Years remaining on lease: approx. 86

Approximate internal area: 62 sq. m.

Local authority: Guildford Borough Council

Council tax band: D

EPC rating: C (80)

Ground rent: £75.00pa

- Terms, conditions and requirements -

Minimum household income requirement: £32,622^

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.

Pets: Pets are not permitted in buildings with communal areas.

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

Priority: Priority is given to those nominated by Guildford Borough Council and those with 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

  • *£112,000 for a 35% share available under the shared ownership scheme *
  • You can purchase more shares up to 100% when the time is right for you
  • Viewing is highly recommended
  • Excellent starter home
  • Allocated parking
  • Communal gardens and children’s play area
  • Walking distance to public transport London Road Train Station
  • Easy access to public transport, A3 and M25- perfect for commuting!

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Calculate Monthly Cost

Share price
£ 112,000
Min. £112,000
Share percentage
Min. 35%
Your deposit
Min. £5,600
Monthly cost*
£1,152
Cost breakdown
£485
Rent
£109
Service charge
£558
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.