Share Price £126,000 (from 40% Min. Share)

Full Value £315,000 | £6,300 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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Cosy flat in the heart of Guildford - look no further to call this your home!


Eligibility

Minimum household income requirement: £35,654

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.


Description

***Please quote POW603 when enquiring.***

- Introduction -

Tired of renting with nothing to show for it? This two-bed apartment is located within close proximity to local shops and has plenty of convenience. With Stoke Recreational Ground and National Trust - River Wey and Godalming Navigations and Dapdune Wharf on your doorstep, you can enjoy a leisurely walk or a more energetic outdoor run. Guildford Train Station is only a 5-minute drive away providing you with direct access to London and surrounding areas – so why not take a look?

 

- What the owner says -

“Most of the widows in the apartment look out onto communal areas. The bedroom window is not overlooked by other properties. The living room is opposite other apartments but has trees for privacy. The best thing about the apartment is the location and space. You are a 6-minute walk away from Guildford mainline Station. You are and 8-minute walk away from the town centre. I have lived here for 12 years and it's been brilliant.”

 

- 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 first floor apartment.

Entrance hallway with telephone entry system for security and peace of mind.

Living room with dual aspect windows overlooking the greenery and development.

Kitchen has coordinating wall and base units with contrasting worktops, electric cooker/hob, extractor fan and window.

Master bedroom and second bedroom with windows overlooking open green spaces.

Bathroom has bath with overhead shower, wash hand basin, WC and window.

Wooden flooring is laid to the living areas and bedrooms. Vinyl is fitted to the kitchen and bathroom.

Electric wall-mounted heaters.

Communal gardens.

Allocated parking bay.

 

- Costs –

PRICE - £126,000*

RENT - £529.89pm

SERVICE CHARGE - £118.37pm**

*This represents a 40% share of the full open market value of £315,000

**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 the 1st October 2004

Years remaining on lease: approx. 83 *subject to vendor completing lease extension, new lease terms will be an additional 90 years

Approximate internal area: 69 sq. m.

Local authority: Guildford Borough Council

Council tax band: C

EPC rating: B (82)

 

- Terms, conditions and requirements -

Minimum household income requirement: £35,654

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.

 


- 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

  • *£126,000 for a 40% share available under the shared ownership scheme *
  • You can purchase more shares up to 100% when the time is right for you
  • Allocated parking bay
  • Communal gardens
  • Plenty open green spaces and beautiful countryside
  • Keep busy with great shopping amenities and enjoy a variety of restaurants and bars
  • Great for commuting
  • Walking distance to public transport
  • Easy access to the A3, M25 and Guildford Train Station

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Calculate Monthly Cost

Share price
£ 126,000
Min. £126,000
Share percentage
Min. 40%
Your deposit
Min. £6,300
Monthly cost*
£1,276
Cost breakdown
£530
Rent
£118
Service charge
£628
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.