Shared Ownership

This superb modern home is available to buy from as little as £171,500 with a 35% share!

This apartment is located on the second floor of a modern development built in 2020. The spacious accommodation provides two double bedrooms, modern bathroom and a double aspect reception room which is open plan with a fully fitted kitchen. This home also benefits from allocated parking and a long lease. No onward chain!

This property is conveniently situated close to a range of local amenities including pubs, restaurants, schools and sports facilities. Thames Ditton train station is less than a mile away and offers connections to London and Hampton Court.

PRICING & AFFORDABILITY

Full Market Value: £490,000

35% Share Price: £171,500 (rent £942.23pcm)
Minimum 5% Mortgage Deposit (35% share): £8,575
Approximate Service Charges: £111.29pcm
Shared Ownership Lease: approx. 120 years
Council Tax Band: D

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 £490,000 and a purchaser would not need to meet the eligibility criteria listed above.