2 bedroom apartment for sale

Shared Ownership

This brand new home is available to buy from as little as £172,500 with a 75% share!

Woodlands Chase forms part of the Whiteley Meadows development and has a distinctive and contemporary look and feel. Enjoy the advantages of arriving when the Whiteley Meadows community is already growing and developing. Whiteley Meadows will have its own nursery, primary and senior schools so youngsters will be part of a strong local school community too.

The development features a beautifully balanced landscape of homes nestling amongst open green spaces and just a stone’s throw from Whiteley Shopping centre, the ultimate destination for shopping and leisure. The road infrastructure at Whiteley has been greatly improved with the opening of Bluebell Way in 2021 and Whiteley Way in 2023 allowing direct access to the A3051 Botley Road.

For those commuting, the development is located off the M27 between Portsmouth and Southampton with Southampton airport just 16 minutes’ drive away. Or let the train take the strain with journeys from Swanwick to Southampton station in 17 minutes. You’re never far from the water’s edge with destinations such as Port Solent and Lee-on-the-Solent, or just spending a lazy day on the river Hamble.

This brand new ground floor apartment features an open plan lounge/kitchen/diner with a door out to a private terrace. There are two double bedrooms, a bathroom and the apartment also comes with one allocated parking space.

PRICING & AFFORDABILITY

Full Market Value: £230,000

40% Share Price: £92,000 (rent £287.50pcm)
50% Share Price: £115,000 (rent £239.58pcm)
75% Share Price: £172,500 (rent £119.79pcm)

Minimum 5% Mortgage Deposit (40% share): £4,600
Approximate Service Charges: £105.61 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC

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.

At Woodlands Chase you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

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.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*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.

*These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.