2 bedroom apartment for sale
Chieftain Road, Longcross, KT16 0DD
Share percentage 35%, full price £410,000, £7,175 Min Deposit.
Share percentage 35%, full price £410,000, £7,175 Min Deposit.
Monthly Cost: £1,487
Rent £611,
Service charge £161,
Mortgage £715*
Calculated using a representative rate of 3.94%
Calculate estimated monthly costs
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright.
To be eligible for shared ownership you would need to meet the following criteria:
• Your household income does not exceed £80,000
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.
Summary
Brand new apartment
Description
This superb first floor apartment has accommodation including: an open plan lounge/kitchen/diner, two double bedrooms (master with en suite), bathroom and a private balcony.
Key Features
Brand new Shared Ownership home
Open plan lounge/kitchen/diner
En suite
Walking distance to Longcross train station
Fantastic local amenities
Private balcony
Particulars
Tenure: Not specified
Council Tax Band: Not specified
Property Downloads
Floor PlanMap
The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together, rent, service charge and mortgage.
- 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.
Share percentage 35%, full price £410,000, £7,175 Min Deposit. Calculated using a representative rate of 3.94%
Leaders Shared Ownership
