Shared Ownership

This brand new home is available to buy from as little as £115,500 with a 35% share!

An exceptional lifestyle awaits you at stunning Sovereign Gate in the thriving village of Overton. Situated just a 17 minute drive from Basingstoke, you will benefit from being near some of England's most impressive landscapes. Living so close to nature is priceless, making you cherish those morning walks, cycling to the shops and walking the children to school.

Overton has so much to offer, from its train station, local shops and cafés to its restaurants and leisure venues. Sip coffee by the village square or pop into the greengrocers. Overton has a doctors' surgery, dentist, pharmacy and vet's surgery. Shop at a choice of convenience stores, or drive a few minutes to a supermarket, including a Waitrose & Partners in Basingstoke. There's a choice of country pubs within a short walk, perfect for meeting up with family and friends.

For exercise and activities, you'll find 30 acres of open spaces and facilities, including floodlit tennis courts and clubs for everything from football, rugby and cricket, to running and Taekwondo. Lordsfield Swimming Club is just a 15 minute walk away, with classes in the early morning and evening sessions. Town Meadow has a 9-hole golf course, while Basingstoke Golf Centre has a public course and is home to Knight's Realm family adventure golf. Basingstoke Aquadrome is just a 13 minute drive away and offers swimming pools, a gym, and fitness classes.

This brand new semi detached home has accommodation that features a kitchen/diner at the back of the house with a separate lounge, ground floor cloakroom, two double bedrooms, bathroom, parking and a private garden.

PRICING & AFFORDABILITY

Approximate Size 864 sq ft

Full Market Value: £330,000

35% Share Price: £115,500 (rent £529.38pcm)
50% Share Price: £165,000 (rent £378.13pcm)
75% Share Price: £247,500 (rent £189.06pcm)

Minimum 5% Mortgage Deposit (35% share): £4,950
Approximate Service Charges: £72.76 pcm*
Shared Ownership Lease: 125 years
Council Tax Band: TBC

ELIGIBILITY

Local Connection to Basingstoke and Deane Required. There is a local connection clause related to this property and this means that applications can only be received from someone with connection to the local area, via work, family or currently living in the borough in accommodation that does not fit their needs.

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.

At Sovereign Gate you can buy a minimum 50% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

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.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change.

*These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

SOWN are selling the homes on behalf of Sage Homes. Sage Homes is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Homes visit .

Floorplans

2 bedroom semi-detached house for sale