Shared Ownership
This superb modern home is available to buy from as little as £89,950 with a 35% share!
Situated within ½ mile walk of Farnham train station and close to local amenities is this spacious second floor apartment. The accommodation includes an open plan kitchen/living space, double bedroom, bathroom and allocated residents parking.
Farnham is perfectly located for the very best of living in the heart of this vibrant market town. Everything you need is within walking distance, including a wide choice of shops, bars, restaurants, beautiful parks and gardens. For everyday essentials, Waitrose and Sainsbury's are close by. High street brands and independent boutiques are found in the distinctive shopping areas of this market town, with more planned in this brand new development. For nights out, you are spoilt for choice with numerous fashionable bars and restaurants.
The station provides a regular train service to London Waterloo within the hour and also to Guildford. There is also excellent road access to the A3 and A31 with principal routes to London, Heathrow and Gatwick International airports and south coast utilising the national motorway network of the M3 and M25.
PRICING & AFFORDABILITY
Full Market Value: £257,000
35% Share Price: £89,950 (rent £427.91pcm)
Minimum 5% Mortgage Deposit (25% share): £4,497.50
Approximate Service Charges: £148.96 pcm*
Shared Ownership Lease: approx. 142 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 £257,000 and a purchaser would not need to meet the eligibility criteria listed above.
