Shared Ownership

This superb modern home is available to buy from as little as £112,500 with a 40% share!

Accommodation comprises entrance hall with storage and airing cupboards, modern kitchen/breakfast room, a bright, dual aspect living room with Juliet balcony, family bathroom and two bedrooms with built in wardrobes to the main bedroom.

Set in a prime town centre location, this apartment is ideally located within walking distance of the local amenities and has easy access to fantastic transport links.

Further benefits include an allocated parking space and secure phone entry system.

PRICING & AFFORDABILITY

Approximate Size: 666 Sqft

Full Market Value: £250,000

40% Share Price: £112,500 (rent £414.83pcm)
Minimum 5% Mortgage Deposit (40% share): £6,125
Approximate Service Charges: £164.37pcm*
Shared Ownership Lease: approx. 82 years
Council Tax Band: C

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.

* This home can also be purchased outright (100% of the value) which is £250,000 and a purchaser would not need to meet the eligibility criteria listed above.

Floorplans

2 bedroom flat for sale