1 bedroom apartment for sale
4 Royal Court, 108 Broadhill, GU21 2SL
Share percentage 40%, full price £220,000, £4,400 Min Deposit.
Share percentage 40%, full price £220,000, £4,400 Min Deposit.
Monthly Cost: £1,257
Rent £587,
Service charge £169,
Mortgage £501*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual 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.
*Service charges are estimated and may subject to change.
** This home can also be purchased outright (100% of the value) which is £220,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £88,000 with a 40% share!
Description
Situated within the highly sought-after area of Knaphill is this first floor apartment, available through the Shared Ownership scheme. The accommodation includes: entrance hall, a spacious open plan lounge/diner with access through to a fitted kitchen, a large double bedroom and a bathroom. Externally are communal gardens and off road parking.
Knaphill village has a vibrant range of shops, pubs and restaurants, including a Post Office. For more comprehensive shopping, Sainsbury's superstore is also close by. For commuting, Brookwood station provides a regular service direct to London Waterloo, Woking and Guildford. For those who enjoy the outdoors, there is Brookwood Country Park close by which is ideal for dog walking or a family stroll.
PRICING & AFFORDABILITY
Approximate Size: sq ft
Full Market Value: £220,000
40% Share Price: £88,000 (rent £586.68pcm)
Minimum 5% Mortgage Deposit (% share): £4,400
Approximate Service Charges: £168.99pcm*
Shared Ownership Lease: approx. 80 years
Council Tax Band: C
Key Features
Modern Shared Ownership home
First floor
Parking
Double bedroom
Lounge/diner
Close to local amenities
Particulars
Tenure: Leasehold
Lease Length: 80 years
Council Tax Band: C
Property Downloads
Floor Plan 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 40%, full price £220,000, £4,400 Min Deposit. Calculated using a representative rate of 5.26%
