2 bedroom apartment for sale
40 Chamberlayne House, SO31 5HY
Share percentage 50%, full price £185,000, £4,625 Min Deposit.
Share percentage 50%, full price £185,000, £4,625 Min Deposit.
Monthly Cost: £951
Rent £262,
Service charge £162,
Mortgage £527*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
Shared ownership is when you buy a share in the property of between 25 and 75 percent of its market value and pay rent on the share that you do not own. The exact percentage is subject to the individual criteria of each new development or scheme.
Most people put down a small deposit on their share (minimum 5 - 15%, depending on your mortgage lender) and take out a mortgage on the rest. You can then 'staircase' your share in the property - building up to 100% in most cases.
Register for shared ownership
You will need to register your intrest via our website and complete an affordability assessment with on of our panel mortgage advisors.
Am I eligible?
Serving MOD, all first time buyers and social tenants will be given priority.
If your annual household income is more than £80,000 you will not be eligible.
You will also need £2,000 to cover the legal costs of buying a home, plus enough money saved for your deposit. You must not have loans exceeding £15,000 or be in mortgage/rent arrears. You must be able to obtain a mortgage and prove that you can pay your rent and service charges.
Remember you will also have to pay household bills including gas, electricity and water.
Summary
40 Chamberlayne House
Description
AVAILABLE
A spacious, modern two-bedroom apartment is available on a shared ownership resale purchase based on a 50% share at £92,500.
Monthly charges apply. From 01 April 2024 to 31 March 2025, these consist of:
A monthly rent of £262.48
Leaseholder charges: £66.16 which includes Building insurance, management fee and sinking fund for major structural repairs
Service charges of £96.25
Monthly total costs of: £424.89 apply (subject to final confirmation)
Key Features
- Fitted kitchen with integrated stainless steel oven, hob and extractor fan
- Modern bathroom with heated towel rail, chrome fittings
- Lift access, door entry system
- Gas central heating, double glazing
- Fitted carpets in living areas
- Satellite TV and telephone points
- Locked bicycle store
- Excellent views
- Short walk to Netley Railway Station
- Shops, post office and takeaways close by
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: B
Property Downloads
Key Information Document Energy CertificateMap
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 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.
Share percentage 50%, full price £185,000, £4,625 Min Deposit. Calculated using a representative rate of 5.26%
