Shared Ownership
This superb modern home is available to buy from as little as £119,000 with a 35% share!
A first floor apartment located within easy reach of Guildford town centre and its wealth of amenities. This bright and spacious two bedroom property provides a modern fully fitted kitchen which is open plan with a spacious reception room, two large double bedrooms and a bathroom.
Outside, there are well maintained landscaped communal gardens and there is gated underground parking where this property benefits from one allocated space.
NB. The service charge includes water, buildings insurance, a caretaker service and cleaning and maintenance of the communal areas & gardens
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: £340,000
35% Share Price: £119,000 (rent £566.56pcm)
Minimum 5% Mortgage Deposit (35% share): £5950
Approximate Service Charges: £450.70pcm*
Shared Ownership Lease: approx. 83 years
Council Tax Band: C
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 £340,000 and a purchaser would not need to meet the eligibility criteria listed above.
