Share Price £160,000 (from 50% Min. Share)

Full Value £320,000 | £16,000 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Newdigate - Surrey

place Janson House, 9 Darbyshire Road, RH5 5BB

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A Fantastic Opportunity to Purchase a Two Bedroom Flat, on Shared Ownership by Clarion Housing 


Eligibility

WHAT IS SHARED OWNERSHIP ?
Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and the Homes and Communities Agency (HCA) outside of London.

IS SHARED OWNERSHIP FOR YOU ?
The GLA and HCA set the eligibility criteria for Shared Ownership, but broadly speaking you must:
 Not own another property in the UK or any other country.
 Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
 Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
 Be in full time permanent employment.
 Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
 Have a good credit history.
If you are still unsure about Shared Ownership or would like more information view[ Facts and Frequently Asked Questions]


Description

SHARED OWNERSHIP(Advertised price represents 50% share. Full market value £320,000 - See 'Please Note' below). A beautifully-presented flat on the first floor of a modern building in the village of Newdigate. The property features a reception room with double doors leading out onto a south-facing balcony. The stylish kitchen/dining area is semi-open-plan with white gloss and walnut style units. There are two bedrooms, both comfortable doubles, and an attractive bathroom. To the side of the building is a communal lawn and the development is surrounded by the Surrey countryside while still being only a short bus or cycle ride from the railway station at Holmwood (for services between Horsham and London Victoria) and within easy reach of the M23/M25 and Gatwick. The flat comes with two parking spaces.

Please Note:'Staircasing' is restricted to 80% for this property.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM[HERE; http://bit.ly/2Q1ZDon]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Tenure:Leasehold (125 years from 2012)
Minimum Share Available:50% (£160,000). The housing association will expect you to purchase the largest affordable share which may be more than the advertised minimum.
Shared Ownership Rent:£298.23 per month (based on 50% ownership). The rent is subject to annual review.
Service Charge:£106.46 per month. The service charge is subject to annual review.
Guideline Minimum Household Income:£35,750 assuming dual incomes and a 10% deposit of a 50% share. Equivalent single-income figure would be £40,750.
Council Tax:Band B, Mole Valley (£1481.64 for 2019-20). Priority may be given to applicants that currently live and/or work in the District of Mole Valley.

The property is offered for sale on a sold-as-seen basis. Clarion Housing do not offer any warranties on the domestic appliances in the property or undertake to carry out any remedial work or redecoration work of a cosmetic nature. Pets not permitted (except assistance animals).


Key Features

  • Guideline Minimum Deposit £16,000
  • Guideline Income £40.8k, dual £35.8k
  • First (Top) Floor with Balcony
  • Approx. 735 Sqft Gross Internal Area
  • High Performance Glazing
  • Gas Central Heating
  • Two Parking Spaces
  • Communal Cycle Store

Download Documents

Link to the floor plan Property brochure 1 Energy Certificate

Accessibility

F – General Needs

General needs housing does not meet any of the above criteria. Properties in this category will have more than four steps or a ramp access that is steeper than 1:10 to access the property front door. These properties should be marketed with the number of steps to access the property as this will provide an additional factor for helping people choosing what to bid for.


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Share price
£ 160,000
Min. £160,000
Share percentage
Min. 50%
Your deposit
Min. £16,000
Monthly cost*
£1,007
Cost breakdown
£298
Rent
£106
Service charge
£603
Mortgage*
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Disclaimer

The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

  • 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 costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.


NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.