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£148,000
This superb modern home is available to buy from as little as £148,000 with a 40% share!
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. 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 £370,000 and a purchaser would not need to meet the eligibility criteria listed above.
Shared Ownership
This superb modern home is available to buy from as little as £148,000 with a 40% share!
A bright and airy ground floor apartment located 3 miles outside of Redhill town centre. The property accommodation comprises entrance hall, a spacious open plan kitchen/dining/living space with doors out to well maintained communal gardens, two bedrooms (an en-suite shower room to the master bedroom) and a further bathroom. There is an allocated parking space and a very long lease.
The Belfry Shopping Centre with over 60 stores, including Marks & Spencer, H&M, and Boots . The area also hosts a vibrant market three days a week and the newly opened Light development, which includes shops, a cinema, and an arcade. There are also a range of cafes, bars and restaurants.
Merstham Railway Station is just 200 meters from RH1 3GH, offering services on the Southern and Thameslink lines. Redhill Station, approximately 3 km away, provides additional connections. There are also several local bus routes.
PRICING & AFFORDABILITY
Full Market Value: £370,000
40% Share Price: £148,000 (rent £570.50pcm)
Minimum 5% Mortgage Deposit (45% share): £7,400
Approximate Service Charges: £128.33 pcm*
Lease: 996 years
You can add locations as 'My Places' and save them to your account. These are locations you wish to commute to and from, and you can specify the maximum time of the commute and by which transport method.
Sown Shared Ownership