TENURE: To be advised
In a stunning waterside location, Chapel Riverside offers the height of contemporary urban living in the vibrant heart of Southampton. This spectacular apartment is available to buy as a Shared Ownership at a 50% share at 123,750 with a deposit that could be as low as 6,188. Full purchase price: 247,500. A great opportunity to get onto the property ladder and live in this brand new home.
Plot 157 - This 2 bedroom modern apartment is located on the fourth floor of Chapel Riverside, boasting an en-suite to the master bedroom, open plan kitchen/living room and benefits from an allocated parking space.
Chapel Riverside, Southampton is the new destination for modern waterside living, offering high quality 1 and 2 bedroom apartments. This development is in a prime location on the west bank of the River Itchen with direct connections to Southampton's city centre.
With its spectacular architecture, Chapel Riverside takes full advantage of its surrounding riverside setting. The building is situated among wide boulevards and striking landscaped communal gardens with river views. The development is the essence of modern day living in a city with great plans for the future with new cafes and more.
Each apartment features stylish and contemporary specifications, including bespoke kitchen and bathrooms, underfloor heating throughout controlled from your smart device and video entry phone. Most apartments also benefit from allocated parking, get in touch with us for further information.
Example Financial Breakdown:
Full market value: 247,500
50% share value: 123,750 (your mortgage will be paid on this amount)
5% deposit: 6,187.50
Rent charged on remaining 50% share: 2.75% - 283.59 per month
Please note these breakdowns are for example purposes only and the figures may change to reflect your own circumstances and market movement. In order to receive an accurate breakdown please get in touch and we will have this arranged.
What is Shared Ownership, how does it work & what are the benefits?
A shared ownership purchase allows you to buy a share of a property and pay rent on the part you dont own at a reduced rate. It is designed to help people with a smaller deposit and/or lower income to get on to the property ladder and is particularly aimed at first-time buyers. The scheme can be potentially cheaper than renting, but the main benefit is that you own a percentage of the home and therefore not all of your money is lost in rent. Also, more often than not, your monthly repayments work out cheaper than if you had an outright mortgage. Of course, you also stand to benefit from any increase in value of the share you have purchased.
For further information and to find out if you are eligible to purchase one of these stunning apartments please contact Morris Dibben in Southampton.