Spring Road, Southampton, SO19

The Property
DESCRIPTION:

A first floor, two-bedroom apartment in Sholing.

This property is available for a 25% purchase (shared ownership) or 100% purchase.

Key Features:

· Entry system

· Fitted kitchen with integrated appliances

· Living/dining area

· 4-piece suite bathroom

· Storage cupboard in hallway

· Built in wardrobes in both bedrooms

· Gas central heating (new boiler installed in November 2023)

· Property represents a fantastic first-time purchase

Extras:

· Communal garden

· Parking allocated with lease

· Juliette balcony

· Bicycle locker

Lease: Commenced 2004 with 99-year term

Council Tax Band: Southampton Council – B

EPC: rate B

Local Area:

· Situated in a quiet residential area of Sholing in Southampton.

· Sholing Train Station offers reliable direct services to Portsmouth and Southampton Central provide further services to Brighton, Bournemouth, London and Cardiff.

· The M27 is easily accessible.

· Southampton City Centre is located 2.8 miles from the apartment and offers a wide variety of shops, restaurants, entertainment and amenities.

Financial Information:

Property Value = £170,000

Percentage Share = 25%

Share Price = £42,500

Deposit for share = £4,250 minimum

Monthly Rent = £659.89 from 1st April

Monthly Service Charge = £175.38 from 1st April



Shared Ownership
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:
1. You have a gross household income of no more than £80,000 per annum.
2. You are unable to purchase a suitable home to meet your housing needs on the open market.
3. You do not already own a home or you will have sold your current home before you purchase or rent.

This home can also be purchased outright (100% of the value) which is £170,000 and a purchaser would not need to meet the eligibility criteria listed above.

Property ownership information

Tenure: Shared ownership

Percentage share owned: 25%

Additional monthly rent: £659.89

Ground rent review period: No review period

Service charge review period: No review period

Lease end date: 01/03/2103

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as 'draft'. Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts.

Successful buyers will be required to complete anti-money laundering and proof of funds checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.