1 bed flat for sale

Flat 1, 10 Cyprus Road, Deepcut GU16

Shared Ownership

This superb modern home is available to buy from as little as £112,500 with a 50% share!

A beautifully presented ground floor apartment located within a sought-after development in Deepcut. A bright and spacious living/dining room is open plan with a modern fully fitted kitchen. There is a good size double bedroom and a bathroom. There is allocated parking and the lease is 121 years.

The property is conveniently located with easy access to Frimley and Camberley town centres, and excellent commuter links via the M3 and Direct rail links to London Waterloo via Brookwood and Woking train stations. Deepcut is a rural location that offers plenty of picturesque walks along Basingstoke canal and surrounding woodland with a small High Street offering range of local amenities.
Pricing & affordability


Full Market Value: £225,000

50% Share Price: £112,500 (rent £355.47 pcm)
Minimum 5% Mortgage Deposit (50% share): £5,625
Approximate Service Charges: £17.39 pcm*
Shared Ownership Lease: Approx. 994 years
Council Tax Band: B
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 £225,000 and a purchaser would not need to meet the eligibility criteria listed above.