Share Price £92,500 (from 50% Min. Share)

Full Value £185,000 | £4,625 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Southampton - City of Southampton

place 41 Chamberlayne House, Robin Place, SO31 5HY

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Weald Living

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A spacious, modern two-bedroom apartment is available on a shared ownership resale purchase based on a 50% share at £92,500.


Eligibility

£92,500 -Based on a 50% share

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 10 - 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 apply to the Help to buy agent atwww.helptobuyagent3.org.uk
Once you have registered with the Help to Buy agent you can register with us.

Am I eligible?

All first time buyers, social tenants and serving MOD 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 which will be from 10 - 15 per cent of the cost of your share, depending on your mortage lender.
You must not have loans exceeding £15,000 or 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 gas, electricity and water.


Description

AVAILABLE

A spacious, modern two-bedroom apartment is available on a shared ownership resale purchase based on a 50% share at £92,500.

Monthly charges apply. From 01 April 2019 to 31 March 2020, these consist of:

A monthly rent of £205.31

Leaseholder charges: £47.38 which includes Building insurance, a management fee and sinking fund for major structural repairs

Service charges of £126.00

Monthly total costs of :£378.69apply (subject to final confirmation)


Key Features

  • Fitted kitchen with integrated stainless steel oven, hob and extractor fan
  • Contemporary bathroom with heated towel rail, chrome fittings
  • Lift access, door entry system
  • Gas central heating, double glazing
  • Fitted carpets in living areas
  • Satellite TV and telephone points
  • Lockable bicycle store
  • 4 year remaining NHBC warranty



Download Documents

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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Calculate Monthly Cost

Share price
£ 92,500
Min. £92,500
Share percentage
Min. 50%
Your deposit
Min. £4,625
Monthly cost*
£839
Cost breakdown
£205
Rent
£173
Service charge
£461
Mortgage*
Calculated using a representative rate of 3.94%
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Weald Living

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Location

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.