1 bedroom apartment for sale
Railway Walk, SM1 4FR
Share percentage 50%, full price £300,000, £7,500 Min Deposit.
Share percentage 50%, full price £300,000, £7,500 Min Deposit
Monthly Cost: £1,419
Rent £457,
Service charge £126,
Mortgage £836*
Calculated using a representative rate of 5.03%
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 £90,000.
• 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. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
** This home can also be purchased outright (100% of the value)
Summary
This superb modern home is available to buy from as little as £150,000 with a 50% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £150,000 with a 50% share!
Situated just a short walk from Sutton Train Station and located on the 8th floor of this modern development, Railway Walk features an open plan lounge/kitchen/diner which opens to a private balcony where you can enjoy views across the Sutton townscape. There is a spacious double bedroom and a bathroom. Please note there is no parking with this apartment.
Located in Sutton, residents will have access to a variety of local shops, restaurants, and parks, as well as excellent transport links for easy commuting to London and beyond. Living in Sutton offers a beautiful blend of suburban comfort and urban convenience. With its charming neighbourhoods, vibrant community spirit, and excellent amenities, Sutton provides a fantastic quality of life. Residents enjoy easy access to a bustling town centre, boasting a diverse range of shops, restaurants, and entertainment options. The area is well-served by public transport, making commuting to London and surrounding areas a breeze. Sutton's green spaces, parks, and recreational facilities provide ample opportunities for outdoor activities and relaxation. With top-notch schools, a rich cultural scene, and a friendly atmosphere, Sutton is a welcoming and desirable place to call home.
PRICING & AFFORDABILITY
Full Market Value: £300,000
50% Share Price: £150,000 (rent £457.20 pcm)
Minimum 5% Mortgage Deposit (50% share): £7,500
Approximate Service Charges: £126.44 pcm*
Shared Ownership Lease: approx. 112 years
Council Tax Band: C
Key Features
Modern Shared Ownership home
No chain
Double bedroom
Private balcony
Walking distance to Sutton Train Station
8th floor
Particulars
Tenure: Leasehold
Lease Length: 112 years
Council Tax Band: C
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: No
Outside Space/Garden: n/a
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
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 £300,000, £7,500 Min Deposit. Calculated using a representative rate of 5.03%
