2 bedroom house for sale
Bay Close, GU7 1ZF
Share percentage 40%, full price £515,000, £10,300 Min Deposit.
Share percentage 40%, full price £515,000, £10,300 Min Deposit
Monthly Cost: £2,041
Rent £803,
Service charge £119,
Mortgage £1,119*
Calculated using a representative rate of 4.78%
Calculate estimated monthly costs
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. 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) which is £515,00 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 £206,000 with a 40% share!
Description
This charming end-of-terrace, three-storey house in the desirable Milford area of Surrey offers flexible living space ideal for professionals or small families. The top floor includes a double bedroom and modern bathroom, while the second floor features a bright reception room and an additional bedroom. The first floor comprises a well-equipped kitchen, a convenient downstairs WC, and a study, perfect for working from home. Outside, you’ll find a private garden, an outdoor office or studio space, and allocated parking.
Situated in a quiet cul-de-sac, the property is within easy walking distance of Milford Station, with regular direct trains to London Waterloo in around 50 minutes and Guildford in under 10 minutes, making it perfect for commuters. The nearby A3 offers quick road access to Guildford, Portsmouth, and London, complemented by local bus routes connecting to nearby towns and amenities.
Local conveniences include shops, cafes, and supermarkets in Milford village, alongside well-regarded schools. Outdoor enthusiasts will appreciate close access to Milford Green and the Surrey Hills Area of Outstanding Natural Beauty.
PRICING & AFFORDABILITY
Full Market Value: £515,000
40% Share Price: £206,000 (rent £802.80pcm)
Minimum 5% Mortgage Deposit (40% share): £10,300
Approximate Service Charges: £118.81pcm*
Lease: 116 Years
Key Features
Morden Shared Ownership Home
Milford Village
End of Terrace
Two Bedrooms
One Bathroom
South Facing Garden
Parking & home office
Particulars
Tenure: Leasehold
Lease Length: 116 years
Council Tax Band: Not specified
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: Yes - Allocated
Outside Space/Garden: Yes - Private Garden
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 40%, full price £515,000, £10,300 Min Deposit. Calculated using a representative rate of 4.78%
