Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

Read more about Shared ownership (Opens in new window)

Russell Square, 2 bed homes


Russell Square, Horley, Reigate and Banstead, RH6 7GW

Shared ownership

Starting prices

75% share from
£202,500
Full price
£275,000
Minimum deposit
£10,125
Monthly rent
£146
Monthly service charge
£162

Overview

Full Description

A two bedroom first floor located in Horley available through Shared Ownership Scheme

Available for 202500 for 75% share based on the marketing figure of £275,000
SO Resi Monthly Payment - £145.97
Monthly Service Charge - £161.68
Total Monthly Charge - £307.65 PLUS MORTGAGE REQUIRED FOR 75% SHARE
Minimum income requirement - £60,996

Buy more shares for a minimum of 10%

Incomes required are based on the following assumptions: Deposit 5% on the resale calculator, mortgage interest rate 2.99% & mortgage term 25 years. Income required will be reduced if you have a higher deposit available.

A modern first floor flat in good condition. The accommodation comprises of private entrance hall, bathroom with wc, two bedrooms and a kitchen/reception room. Outside there is a private balcony accessed via the reception area, as well as further well-kept communal grounds and areas. The property also benefits from communal bin and bike stores, undercroft allocated parking space, double glazing and heating/hot water from a communal system.

Property Details

Ground Floor:
Communal entrance lobby with staircase and lift to:

First Floor:
Private entrance hall
Two storage cupboards
Airing cupboard.

Bathroom with WC

Bedroom 1: 
2.71 x 5.20
Bedroom 2:
3.90 x 2.27

Living room with open plan kitchen:
Kitchen area: 
3.79 x 3.20

Living area:
3.23 x 3.17.

Outside:
Private balcony off living room
Communal areas
Allocated parking space.


EPC Rating
Energy Rating Band - B
Environmental Impact Band - A


All room dimensions approximate.
Please note figures given for SO Resi monthly payment and service charge are correct at time of marketing. There is an annual increase that takes place. Please contact us for more information.


Local area information

Located within a modern residential development of similar properties within Horley town centre. Good access to town centre facilities and station, with M23 and M25 motorways readily accessible.


Housing Provider

SO Resi
Shared ownership

Starting prices

75% share from
£202,500
Full price
£275,000
Minimum deposit
£10,125
Monthly rent
£146
Monthly service charge
£162