Shared Ownership
This superb modern home is available to buy from as little as £182,500 with a 50% share!
This semi detached bungalow located in the charming village of Witley. This well presented home provides bright and spacious accommodation comprising two double bedrooms, a modern bathroom, a large reception room, separate kitchen and a conservatory. There is allocated parking for two cars and a sunny aspect garden at the rear.
Witley is a village in Surrey located close to Godalming and Milford. Witley Railway Station offers good transport links, including direct trains to London Waterloo, making it a convenient location for commuters, and regular bus services to surrounding towns such as Godalming and Guildford. Witley itself offers a few independent shops, pubs and eateries. There is a local primary school and various parks and green spaces nearby.
PRICING & AFFORDABILITY
Full Market Value: £365,000
50% Share Price: £182,500 (rent £413.81 pcm)
Minimum 5% Mortgage Deposit (50% share): £9,125
Approximate Service Charges: £53.79 pcm*
Shared Ownership Lease: approx. 99 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 £365,000 and a purchaser would not need to meet the eligibility criteria listed above.
