1 bedroom apartment for sale

Under Offer

Merstham House, 3 Iron Railway Close, CR5 3LF

£82,500 · Shared Ownership Resale

Share percentage 30%, full price £275,000, £4,125 Min Deposit.

Under Offer
1 bedroom
1 Bathroom
Communal Garden
£82,500 Shared Ownership Resale · Eligibility Eligibility

Share percentage 30%, full price £275,000, £4,125 Min Deposit.

Monthly Cost: £1,108
Rent £472, Service charge £140, Mortgage £496*

Calculated using a representative rate of 5.81%

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 £35637 and available savings of £4125 for a 5% mortgage deposit.


Southern Housing are delighted to offer for sale this well-presented 1 bedroom 1st Floor Apartment at Merstham House


This 1 bed property is ideal for a first-time 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.

This property also has its own private balcony providing views of the courtyard, street parking permits, and is situated in the sought-after modern Cane Hill Estate.

The stunning development is surrounded by greenery.

For residents who have an electric car, there are electric charging points. Resident also have access to communal safe storage for bikes.


Entrance hallway

Storage Cupboard

Open plan Kitchen & Lounge



Private balcony

Lease Term:125 years from 1st July 2018

EPC Rating: B

Council: Croydon

Council tax band: C

Floor space:50m2

Viewings by appointment only. Please note Social Distancing measures need to be followed. Please contact resales via e-mail resales@southernhousing.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@southernhousing.org.uk

Application forms need to be returned to Southern Housing by 24th February 2023

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

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: Leasehold
Lease Length: No lease length specified. Please contact provider.
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:£1,108
Rent £472
Service Charge £140
Mortgage £496

Share percentage 30%, full price £275,000, £4,125 Min Deposit. Calculated using a representative rate of 5.81%

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.