Share Price £121,250 (from 50% Min. Share)

Full Value £242,500 | £6,063 Min. Deposit

Scheme: Shared Ownership

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Chapel Riverside - 2 bed apartment in Southampton

place Chapel Riverside, Endle Street, SO14 5FZ

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Modern two bedroom apartment with private balcony


Eligibility

You may be eligible for this property if:

  • You have a gross household income of no more than £80,000 per annum.
  • You are unable to purchase a suitable home to meet your housing needs on the open market.
  • You do not already own a home or you will have sold your current home before you purchase or rent.

Description

SHOW APARTMENT AVAILABLE - MAKE AN APPOINTMENT TO VIEW

In a stunning waterside location, Chapel Riverside offers the height of contemporary urban living in the vibrant heart of Southampton. This spectacular apartment is available to buy as a Shared Ownership at a 50% share at £121,250 with a deposit that could be as low as £6,062. Full purchase price: £242,500. A great opportunity to get onto the property ladder and live in this brand new home.

Plot 146 - This 2 bedroom modern apartment is located on the second floor of Chapel Riverside, boasting an open plan kitchen/living room opening out onto a private balcony and offers an allocated parking space.

Chapel Riverside, Southampton is the new destination for modern waterside living, offering high quality 1 and 2 bedroom apartments. This development is in a prime location on the west bank of the River Itchen with direct connections to Southampton's city centre.

With its spectacular architecture, Chapel Riverside takes full advantage of its surrounding riverside setting. The building is situated among wide boulevards and striking landscaped communal gardens with river views. The development is the essence of modern day living in a city with great plans for the future with new cafes and more.

What is Shared Ownership, how does it work & what are the benefits?

A shared ownership purchase allows you to buy a share of a property and pay rent on the part you don’t own at a reduced rate. It is designed to help people with a smaller deposit and/or lower income to get on to the property ladder and is particularly aimed at first-time buyers. The scheme can be potentially cheaper than renting, but the main benefit is that you own a percentage of the home and therefore not all of your money is lost in rent. Also, more often than not, your monthly repayments work out cheaper than if you had an outright mortgage. Of course, you also stand to benefit from any increase in value of the share you have purchased.


Key Features

  • Stylish and contemporary specifications
  • Bespoke fully fitted kitchen
  • Modern bathroom
  • Underfloor heating throughout controlled from your smart device
  • Video entry phone
  • Allocated parking

Download Documents

Property brochure 1

Accessibility

A – Wheelchair Accessible Throughout

Meets the design standards from the Wheelchair Housing Design Guide which superseded the Housing Corporation wheelchair design standards. These properties have been designed to meet latest wheelchair accessible housing design standards, offering extra space and full access to all rooms and facilities. This standard provides more space than previous wheelchair housing design guidance and also ensures that all rooms are accessible. In view of the high density of new build housing stock in London, the parking features have been excluded from this category. This will enable wheelchair accessible homes built above ground floor level to be categorised as such.


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Calculate Monthly Cost

Share price
£ 121,250
Min. £121,250
Share percentage
Min. 50%
Your deposit
Min. £6,063
Monthly cost*
£979
Cost breakdown
£278
Rent
£116
Service charge
£585
Mortgage*
Calculated using a representative rate of 3.64%
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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.