1 bedroom apartment for sale

Under Offer

Merstham House, 3 Iron Railway Close, CR5 3LF

£96,000 · Shared Ownership Resale

Share percentage 30%, full price £320,000, £4,800 Min Deposit.

Under Offer
1 bedroom
1 Bathroom
Private Balcony/Terrace
£96,000 Shared Ownership Resale · Eligibility Eligibility

Share percentage 30%, full price £320,000, £4,800 Min Deposit.

Monthly Cost: £1,145
Rent £489, Service charge £115, Mortgage £541*

Calculated using a representative rate of 5.15%

Calculate estimated monthly costs


You may be eligible for this property if:

· You have a gross household income of no more than £90,000 per annum when eligible to purchase.

· 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.

· To purchase this 30% minimum share you will need a minimum joint household income of £40128 and available savings of £4800 for a 5% mortgage deposit.


Optivo are delighted to offer for sale this well-presented 1 bed ground floor flat


This property is ideal for a new buyer who wishes to move straight into an immaculate high-spec property.

There is a large open-plan kitchen & lounge room.

The bright, generously sized master bedroom benefit from large windows.

Next to the bedroom is the outstanding tiled bathroom. Fitted with a double-sized shower, mirror wall & W/C

This property also benefits from having a private patio, allocated permit parking, and is situated in the sought-after modern Cane Hill Estate.

For residents who have an electric car, there are electric charging points.

The current EPC rating is B83.

The internal floor area extends to approximately 63 sq.m.

Leasehold. The unexpired term is 122 years.

Viewings by appointment only. Please note Social Distancing measures need to be followed. Please contact resales via e-mail resales@optivo.org.uk for the vendors details.

If you would like to apply after you have conducted a viewing, a PDF writable application form can be saved from the Brochure Section on this advert. Please email a fully completed copy to resales@optivo.org.uk

Application forms need to be returned to Optivo by ASAP

Please note though that if a high volume of applications is received, the deadline might be brought forward.

*Please note the successful applicant will be required to pay a £250 non-refundable reservation fee once offered the property.

Key Features

Local Information:

Short walking distance to shops and local amenities.

With 2 train stations only a few minutes’ walk away, this property is ideal for commuters.

The A23 provides useful connections to both the M23 making Gatwick only 20 minutes away and M25 for good vehicular access.


Coulsdon South Station

0.3 miles

Coulsdon Town Station

0.3 miles

Woodmansterne Station

0.6 miles


Smitham Primary School

State School

Ofsted: Good

0.2 miles

St Aidan's Catholic Primary School

State School

Ofsted: Good

0.3 miles

Woodcote Primary School

State School

Rating: N/A

0.6 miles

Oasis Academy Byron

State School

Ofsted: Outstanding

0.7 miles


Tenure: Not specified
Council Tax Band: C

Property Downloads
Coulsdon South (0.17 miles) Smitham (0.43 miles) Woodmansterne (0.60 miles)
Monthly Cost Calculator

The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.

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  • 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 and repairs for communal areas within your development.
  • Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.

NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.

Shared Ownership Resale
Estimated Monthly Cost:£1,145
Rent £489
Service Charge £115
Mortgage £541

Share percentage 30%, full price £320,000, £4,800 Min Deposit. Calculated using a representative rate of 5.15%

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.