Share percentage 25%, full price £450,000, £11,250 Min Deposit
Monthly Cost: £1,658
Rent £703,
Service charge £387,
Mortgage £568*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Eligibility Criteria for Shared Ownership
To qualify for a Shared Ownership home, there are a few key requirements you need to meet:
- Age: You must be at least 18 years old.
- Income: If you live outside of London, your total household income must be less than £80,000 per year. In London, the income cap is £90,000 per year.
- Property Ownership: You cannot currently own another home. Shared Ownership is mainly for first-time buyers, but if you do own a property (in the UK or abroad), you need to be in the process of selling it.
- Affordability: You should not be able to afford to buy a suitable home on the open market.
- Financial History: You must have a good credit history, with no outstanding debts or County Court Judgements (CCJs), and show that you can afford the payments and costs involved.
- Deposit & Costs: Typically, you’ll need a deposit of 5-10% of the share you're purchasing and access to around £4,000 to cover additional costs like legal fees and surveys, although this figure can vary.
Who Gets Priority for Shared Ownership?
Shared Ownership is available to anyone who meets the eligibility criteria, including first-time buyers, people looking to move up, downsize, or relocate. While there are no priority groups in areas where Shared Ownership homes are in short supply, military personnel and former members of the Armed Forces (discharged within the last two years) are given priority under government schemes.
In some cases, local authorities may require that applicants who live or work in the area be given preference, depending on local planning policies.
Affordability & Eligibility Check
Each applicant will need to complete an affordability and eligibility check with an independent mortgage advisor. Once you submit an enquiry, we will send you a link to start this process.
Summary
Spacious Split-Level 2-Bedroom Apartment in Surbiton Available on Shared Ownership
Description
This bright and spacious split-level 2-bedroom apartment is located in the popular area of Surbiton, offering modern living in a convenient and well-connected location. With a thoughtful design, this home is perfect for first-time buyers, couples, or small families.
Key Features:
- Spacious & Bright Rooms: The apartment features two generously sized bedrooms and a large open-plan kitchen and living area. The layout creates a comfortable and airy space, ideal for relaxing or entertaining.
- Modern Kitchen: The kitchen is well-equipped with a built-in oven, hob, extractor, and integrated fridge freezer, offering both style and practicality. The open-plan design allows for seamless interaction between the kitchen and living area.
- Comfort Throughout: The apartment is carpeted throughout, providing warmth and comfort in the living spaces, while the kitchen and bathroom feature easy-to-clean linoleum flooring.
- Stylish Bathroom: The bathroom is complete with a shower over the bath, making it perfect for both quick showers and relaxing baths.
- Convenience & Security: There is a handy storage cupboard within the apartment, offering extra space for your belongings. The property also benefits from an audio door entry system, providing an added layer of security.
- Communal Heating System: The apartment is part of a communal heating system, ensuring consistent warmth throughout the year.
- Allocated Parking: An allocated parking space is included, providing added convenience for residents.
Location & Amenities:
Situated in Surbiton, the apartment enjoys easy access to local shops, cafes, and restaurants, as well as excellent transport links. Surbiton Railway Station is nearby, offering fast connections to Central London. The local area also offers green spaces and recreational facilities, making it an ideal place to live.
Additional Information:
- Split-level 2-bedroom apartment
- Open-plan kitchen and living area
- Allocated parking and communal heating
- Audio door entry system
- Close to transport links and local amenities
This spacious and well-maintained apartment offers modern living in a fantastic location, perfect for anyone looking to enjoy the best of Surbiton available on Shared Ownership, 25% share.
Particulars
Tenure: Leasehold
Lease Length: 115 years
Council Tax Band: D
Property Downloads
Floor Plan Energy CertificateMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: Yes
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 25%, full price £450,000, £11,250 Min Deposit. Calculated using a representative rate of 4.59%
