Exchange Mews, Culverden Park Road, Tunbridge Wells

Shared Ownership

This superb modern home is available to buy from as little as £60,000 with a 30% share!

Offered to the market with no onward chain, this second floor apartment is located within the sought after Marconi Place development in Tunbridge Wells and benefits from allocated parking within a secure underground car park.

The accommodation comprises a welcoming entrance hall with useful storage cupboards, a generous open plan kitchen/living room, a double bedroom, and a modern bathroom suite.

Marconi Place is conveniently positioned on the edge of Tunbridge Wells town centre, offering easy access to a wide range of local amenities including shops, cafés, restaurants and supermarkets. The nearby Royal Victoria Place shopping centre provides an excellent selection of high street brands, while the area is also well known for its attractive parks and green spaces including Calverley Grounds and Dunorlan Park. Tunbridge Wells itself is a vibrant and popular town with a blend of historic charm and modern conveniences.

The property is well placed for commuters, with Tunbridge Wells mainline station providing regular services to London Bridge, Charing Cross and Cannon Street. There are also excellent road connections via the A21, offering direct access to the M25 and wider motorway network, making travel to London and the south coast straightforward.

PRICING & AFFORDABILITY

Full Market Value: £200,000

30% Share Price: £60,000 (rent £510.25pcm)
Minimum 5% Mortgage Deposit (30% share): £3,000
Approximate Service Charges: £169.30 pcm*
Lease: 104 years remaining

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 £200,000 and a purchaser would not need to meet the eligibility criteria listed above.