Shared Ownership

This superb modern home is available to buy from as little as £177,000 with a 60% share!

Located within this modern development is this two double bedroom semi detached house with parking alongside. The property is immaculately presented and offers an open floor ground floor living space with a fully fitted kitchen and French doors opening on to a private garden. There is also a downstairs WC. Upstairs, there are two double bedrooms and a modern bathroom.

The property is located in Towcester, Silverstone. Towcester offers a variety of amenities that cater to residents and visitors alike. Towcester’s High Street is lined with a mix of independent shops, boutiques, and local businesses. It has a range of stores selling everything from clothing and home goods to specialty foods. • Towcester is well-connected by road to nearby towns and cities. The town is close to major routes such as the M1 and the A43, providing good access to Northampton, Milton Keynes, and other locations. While there is no direct railway station in Towcester, nearby stations in Northampton and Milton Keynes provide rail services.


PRICING & AFFORDABILITY

Full Market Value: £295,000

60% Share Price: £177,000 (rent £323.71)
Minimum 5% Mortgage Deposit (60% share): £8,850
Lease management fee: £24.36pcm*
Shared Ownership Lease: approx. 120 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. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

** This home can also be purchased outright (100% of the value) which is £295,000 and a purchaser would not need to meet the eligibility criteria listed above.