£142,500 - 30% share, available through Shared Ownership.
A two-bedroom ground floor apartment with allocated parking and a private wrap-around terrace, set within a modern riverside development in the heart of Guildford. Available through Shared Ownership at £142,500 for a 30% share, with a full market value of £475,000.
The Property
The apartment is presented in excellent condition with bright, spacious accommodation and high ceilings throughout. At the heart of the home is an open-plan living and kitchen space, with the contemporary kitchen fitted with high-gloss units, integrated cooking appliances and extensive worksurfaces. The living area opens directly onto the large ~500 sq ft private terrace.
Two well-proportioned double bedrooms offer comfortable accommodation and good natural light. The principal bedroom enjoys views toward the terrace; the second bedroom would work equally well as a guest room, home office or nursery. The modern bathroom is finished to a high standard with a panel-enclosed bath with shower over, wash hand basin and WC.
The Wrap-Around Terrace
A standout feature of the property is the substantial private ~500 sq ft wrap-around terrace, accessed directly from the living area. This is a genuinely generous outdoor space, closer to a garden than a balcony, providing room for outdoor dining, entertaining and quiet relaxation with riverside views. Residents also benefit from access to beautifully maintained communal gardens that extend down to the riverside.
Shared Ownership at Wey Corner
Shared Ownership allows a buyer to purchase a share of the property and pay subsidised rent on the remaining share to the freeholder, Clarion Housing, the UK's largest housing association. Buyers have the option to acquire further shares over time, known as staircasing, up to 100% full ownership.
Eligibility requirements: household income below £80,000 per year; first-time buyer or no current residential property ownership; minimum 5% deposit on the share value. A local connection to Guildford may apply, please enquire for details.
Affordability
• Share price: £142,500 for a 30% share (full market value £475,000)
• Minimum deposit: from £14,250 (10% of the share value)
• Stamp Duty Land Tax: £0 for first-time buyers; approximately £500 for home-movers at this share price (subject to current SDLT rules) - a saving of approximately £10,000 to £15,000 compared with an equivalent £400,000 to £500,000 full-market purchase
Monthly Costs
• Subsidised rent on Clarion's 70% share: £899.92 per month
• Service charge: £132.59 per month
• Ground rent: £25 per month (£300 per annum)
• Mortgage on the share: approximately £651 per month (based on a £135,000 loan over 40 years at 5%, subject to lender criteria, applicant age and prevailing rates)
• Total all-in monthly cost: from approximately £1,710
