SHARED OWNERSHIP

Situated in a family-friendly environment, Cygnet Grange is convenient for access to both Southampton and Portsmouth. Away from city life, you will also be located close to the beautiful countryside of the Meon Valley – part of the South Downs National Park.

Within the village you will find two pre-schools and a primary and secondary school which are both on New Road and within walking distance of Cygnet Grange, so you’ll soon feel that you’re a part of the community.

Other amenities in the village include pubs, the village hall, leisure centre and a golf
centre. Nearby, the internationally renowned sailing communities of The Solent, Chichester Harbour and the Isle of Wight are a huge draw for sporting enthusiasts, and there are some lovely beaches to explore.

THE SCHEME

The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase.

You can buy a minimum 40% 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.

AFFORDABILITY

The share purchase price is calculated using the full market value and the percentage share purchased. If you buy a 40% share, the share purchase price will be £174,000 and the
rent will be £598.13 a month. If you buy a larger share, you'll pay less rent. The table below shows further examples.

40% share (£174,000) Rent = £598.13
50% share (£217,500) Rent = £498.44
60% share (£261,000) Rent = £398.75
70% share (£304,500) Rent = £299.06
75% share (£326,250) Rent = £249.22

The percentage share and rent amount will change depending on the amount you can afford. You'll receive a worked example after a financial assessment. Initial rent is calculated as 2.75% of the remaining share of the full market value owned by the landlord.

T&Cs *Please note images are for information purposes only and may not represent a true likeness for the units being sold. Some or all images have been digitally furnished to represent how the home could be laid out and the final colours/appearance may differ from the images.*Services Charges will apply, speak to our Sales Agent for more information. Costs are subject to change.

Photos

3 bedroom detached house for sale