St. Monicas Lodge, St. Monicas Road, Kingswood

Shared Ownership

This superb modern apartment is available to buy from as little as £154,000 with a 40% share!

A superb ground floor apartment, built by Shanly Homes and providing spacious accommodation throughout. Being offered for sale with no onward chain, the property comprises: entrance hall, an open plan living area/kitchen with doors out to the communal gardens, two large double bedrooms, bathroom and allocated parking.

St Monica’s Lodge is situated close to the village of Kingswood which provides a comprehensive parade of local shops and restaurants. Locally there is a wide choice of state and independent schools. Kingswood Station provides services into London of approximately 45 minutes. The M25 is accessed via Junction 8, 1.7 miles to the south providing connections to the wider motorway network, whilst for the frequent flyer both Gatwick and Heathrow airports are within reach.

For the golf enthusiasts, there are four world-renowned golf clubs, Kingswood Golf and Country club, Surrey Downs, Walton Heath and the RAC golf club all close by. Horse Riding schools and stabling can be found in Kingswood, Chipstead, Tadworth and Walton on the Hill.

PRICING & AFFORDABILITY

Approximate Size 724 sq ft

Full Market Value: £385,000

40% Share Price: £154,000 (rent £385.47pcm)
Minimum 5% Mortgage Deposit (% share): £7,800
Approximate Service Charges: £142.40pcm plus £19.80pcm to sinking fund*
Shared Ownership Lease: approx. 115 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.

** This home can also be purchased outright (100% of the value) which is £385,000 and a purchaser would not need to meet the eligibility criteria listed above.