2 bed flat for sale

Fellowes Rise, Winchester, Hampshire SO22

This superb modern home is available to buy from as little as £111,000 with a 30% share!

Offered with no onward chain, this first floor apartment offers a spacious open plan kitchen and reception room with access to a private balcony, two bedrooms and a bathroom. The property also benefits from an allocated parking space.

The apartment is well placed for Winchester city centre and its mix of independent shops, cafés, restaurants and everyday amenities. Winchester Cathedral, the Great Hall and the city’s museums and cultural venues add plenty to explore close to home, while Royal Hampshire County Hospital is also nearby.

Winchester railway station is nearby and offers services towards London Waterloo, Southampton and other destinations on the South West Main Line. Local bus stops provide connections around the city, while the allocated parking space makes the apartment practical for those travelling by car.
Pricing & affordability


Full Market Value: £370,000

30% Share Price: £111,000 (rent £721.41pcm)
Minimum 5% Mortgage Deposit (30% share): £5,550
Approximate Service Charges: £183.34pcm*
Shared Ownership Lease: 128 years remaining
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 £370,000 and a purchaser would not need to meet the eligibility criteria listed above.