Share Price £80,000 (from 50% Min. Share)

Full Value £160,000 | £8,000 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Southampton - City of Southampton

place Target Place, 489 Butts Road, SO19 1AD

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A well presented two-bedroom, floor level apartment situated in a popular residential area of Southampton and close to amenities.


Eligibility

You may be eligible for this property if:

  • You have a gross household income of no more than £80,000 per annum.
  • You are unable to purchase a suitable home to meet your housing needs on the open market.
  • You do not already own a home or you will have sold your current home before you purchase or rent.
  • You have an income greater than £ 23,000

 


Description

Property description:

The property comprises of a bright secure communal entrance with phone entry system, open plan living and dining room area, fitted kitchen with inbuilt oven and hob, Juliette Balcony, large double bedroom with built in wardrobe, second double bedroom, family bathroom with shower over bath, double glazing throughout and generous storage space. The property also benefits from access to a well-maintained communal garden and an allocated parking space.

Length of Lease:

Approx. 113 Years

Gross Internal Area:

57 sqm

Financial Information:

Full Market Value: £160,000

50% Share: £80,000

Deposit: £8,000

Monthly Rent: £212.33 – Commencing 1st April 2020

Monthly service Charge: £96.06 – Commencing 1st April 2020

Household Income: £23,000

Mortgage: £400.00*

 


Key Features

• Situated in a quiet residential area of Sholing in Southampton

 

• Southampton City Centre is located 3.5 miles from the apartment and is easily accessible offering a wide variety of shops and restaurants.

 

• Sholing Train Station is located 1.5 miles from the apartment and offers services to Ports­mouth and Southampton where further services are available to London Waterloo, Cardiff and Bournemouth.

 

 


Download Documents

Link to the floor plan Energy Certificate

Accessibility

C – Lifetime Homes

Meets the space standards of the Lifetime Homes developed by the Joseph Rowntree Foundation. Designed to meet the space standards of Lifetime Homes. Main features include a level approach/entrance and wider doorways. This category will capture all new general needs housing built to Lifetime Homes standards. Properties achieving this category will not necessarily meet all Lifetime Homes design guidance as the LAHR framework does not assess features other than space and access. Properties may have an internal flight of stairs. If so, these will be wide enough to accommodate future provision of a stair lift subject to technical feasibility.


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Calculate Monthly Cost

Share price
£ 80,000
Min. £80,000
Share percentage
Min. 50%
Your deposit
Min. £8,000
Monthly cost*
£653
Cost breakdown
£212
Rent
£96
Service charge
£345
Mortgage*
Calculated using a representative rate of 3.09%
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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.