Shared Ownership

This property is available to buy from as little as £168,000 for a 60% share.

Located on the ground floor of this modern development in the heart of Guildford is this light and spacious two-bedroom apartment. Accommodation provides an open plan kitchen/living/dining space, two double bedrooms and a modern bathroom. There is allocated parking and the lease will be extended to 976 years as part of the sale.

Guildford is a vibrant, bustling market town situated in the centre of the county of Surrey within easy reach of Heathrow and Gatwick Airports, and with excellent rail links to London (40 minutes) and served by the M25, M3 and A3. The town centre offers a variety of entertainment venues, including The Yvonne Arnaud Theatre and G Live, as well as excellent shopping opportunities and a variety of restaurants and bars. The town is situated close to the Surrey Hills Area of Outstanding Natural Beauty for walking, taking in views over the town, the Surrey countryside and the London skyline.

PRICING & AFFORDABILITY

Full Market Value: £280,000

60% Share Price: £168,000 (rent £260.36 pcm)
Minimum 5% Mortgage Deposit (60% share): £8,400
Approximate Service Charges: £190.50pcm*
Lease: 976 approx. 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 £280,000 and a purchaser would not need to meet the eligibility criteria listed above.