Share Price £87,500 (from 35% Min. Share)

Full Value £250,000 | £4,375 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Surrey - Surrey

place Redhill, Surrey, RH1 6EL

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This modern ground floor flat in Redhill is available for sale through the Shared Ownership Scheme


Description

This modern ground floor flat in Redhill is available for sale through the Shared Ownership Scheme. The property comprises two large bedrooms, open plan living area and kitchen, bathroom with WC and hallway. The property comes with allocated parking space.

- Minimum income requirement - £32,575

- Income requirement reduces if a higher deposit's available

- Buy more shares for a minimum of 10%

A two bedroom ground floor apartment located in Redhill available for sale through the Shared Ownership Scheme.
Available for £87,500 for 35% share based on the marketing figure of £250,000.

SO Resi Monthly Payment - £523.87
Monthly Service Charge - £127.26
Total Monthly Charge - £651.13 PLUS MORTGAGE REQUIRED FOR 35% SHARE.


Accessibility

D – Easy Access

Compatible with the design standards in Mobility Standard Housing (1974) produced by the DoE and Housing Corporation Scheme Development Standards (pre-1999) and Part M of Building Regulations (2000). The main features of these properties include a level approach to the entrance, wider doorways and more space than in general needs housing. These properties may also have an internal flight of stairs and if so, there is enough space to accommodate future provision of a stair lift subject to technical feasibility.


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Calculate Monthly Cost

Share price
£ 87,500
Min. £87,500
Share percentage
Min. 35%
Your deposit
Min. £4,375
Monthly cost*
£1,087
Cost breakdown
£524
Rent
£127
Service charge
£436
Mortgage*
Calculated using a representative rate of 3.94%
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Location

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.