2 bedroom apartment for sale
The Alders, RH14 9GU
Share percentage 45%, full price £245,000, £11,025 Min Deposit.
Share percentage 45%, full price £245,000, £11,025 Min Deposit
Monthly Cost: £1,091
Rent £372,
Service charge £162,
Mortgage £557*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Shared ownership
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 interest via our website and complete an affordability assessment with one 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 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 council tax, gas, electricity and water.
Summary
Two-bedroom Ground Floor Apartment for Shared Ownership Resale
Description
A Spacious and well presented two bedroom apartment is now available to purchase for a minimum share of 45%.
The property has been updated by the current owners to include luxury vinyl tiles to the bathroom and kitchen, recently re-fitted carpets and a newly refitted bathroom.
Other benefits include a shared cycle store, one allocated parking space and Billingshurst's shops, schools and station all within walking distance.
Based on a 45% purchase the monthly rent of £372.35 applies, within the current financial year of 01 April 2025 to 31 March 2026 (subject to final confirmation)
Monthly service charges apply, totalling £162.44 to include :
- Building insurance
- Management fee
- Sinking fund
- Management agent charges
- Service charges: This includes cyclical painting.
Total monthly charges, including rent: £534.79
Council Tax Band B.
You will need to register your interest via our website and complete an affordability assessment with one of our panel mortgage advisors. An affordability assessment, from independent mortgage adviser, will be required.
Key Features
- Spacious two bedroom apartment
- Luxury Vinyl tiles to bathroom
- Herringbone flooring to living room, kitchen and hallway areas
- Shared cycle store
- Fitted wardrobes to both bedrooms
- One allocated parking space
- Fitted carpets
- Well presented throughout
Particulars
Tenure: Leasehold
Lease Length: 113 years
Council Tax Band: B
Property Downloads
Key Information Document Brochure 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 45%, full price £245,000, £11,025 Min Deposit. Calculated using a representative rate of 4.59%
