Affordable entry for first-time buyers seeking low-maintenance suburban living.
Shared Ownership 50% option available from £120,000
115-year lease remaining — acceptable for lenders
Monthly rent (on unsold share) £289.57
Service charge £69.32 pcm (below average)
Compact one-bedroom, c.528 sq ft — small footprint
Ground-floor with step-free access and terrace
Off-street parking provided
Council tax band TBC — factor into running costs
This one-bedroom ground-floor flat in Addlestone is offered via Shared Ownership at a 50% share, an accessible route onto the property ladder for first-time buyers. The open-plan living area and compact modern kitchen provide a practical, low-maintenance home suitable for a single occupant or couple. Step-free access and off-street parking add everyday convenience.
Financially, buying a 50% share at £120,000 with monthly rent of £289.57 and a service charge of £69.32 can reduce the required mortgage and deposit versus buying outright. The remaining lease length of 115 years is ample for mortgage lenders, and the property has an EPC rating of C, indicating reasonable energy efficiency.
Be aware of the material drawbacks: this is a leasehold property with ongoing rent on the unsold share and a modest service charge. The flat is compact (approximately 528 sq ft) and requires acceptance of shared-ownership lease terms and any restrictions they impose. Council tax band is not yet confirmed, which could affect ongoing costs.
Overall, this flat suits a cost-conscious first-time buyer seeking an affordable entry into Surrey’s market, prioritising location and low-maintenance living over generous internal space. It offers straightforward scope for personalization but limited expansion potential due to its size and tenure.
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