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%.

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Target Place, 2 bed homes


489 Butts Road, Southampton, Southampton City, SO19 1AD

Shared ownership

Starting prices

50% share from
£80,000
Full price
£160,000
Minimum deposit
£8,000
Monthly rent
£212
Monthly service charge
£96

Overview

Property description:

The property comprises of a bright secure communal entrance with phone entry system, open plan living and dining room area, fitted kitchen with inbuilt oven and hob, Juliette Balcony, large double bedroom with built in wardrobe, second double bedroom, family bathroom with shower over bath, double glazing throughout and generous storage space. The property also benefits from access to a well-maintained communal garden and an allocated parking space.

Length of Lease:

Approx. 113 Years 

Gross Internal Area:

57 sqm

Financial Information:

Full Market Value: £160,000

50% Share: £80,000

Deposit: £8,000

Monthly Rent: £212.33 – Commencing 1st April 2020

Monthly service Charge: £96.06 – Commencing 1st April 2020

Household Income: £23,000

Mortgage: £400.00*

 


Local area information

• Situated in a quiet residential area of Sholing in Southampton

 

• Southampton City Centre is located 3.5 miles from the apartment and is easily accessible offering a wide variety of shops and restaurants.

 

• Sholing Train Station is located 1.5 miles from the apartment and offers services to Ports­mouth and Southampton where further services are available to London Waterloo, Cardiff and Bournemouth.

 


Housing Provider

Hyde New Homes
Shared ownership

Starting prices

50% share from
£80,000
Full price
£160,000
Minimum deposit
£8,000
Monthly rent
£212
Monthly service charge
£96