Shared Ownership

This superb modern home is available to buy from as little as £131,250 with a 75% share!

A rarely available semi-detached house located within the sought after area of Blidworth. This well presented home provides accommodation over two floors comprising entrance hall, kitchen, living/dining room, downstairs cloakroom, two bedrooms and a family bathroom. Outside there is a driveway for two cars and a private rear garden.

Forest Folk Drive is situated within the popular village of Blidworth which provides a range of local amenities and approximately fifteen minutes by car from Mansfield. Mansfield is well-connected to larger cities such as Sheffield, Nottingham & Derby as well as many open green spaces .


PRICING & AFFORDABILITY

Full Market Value: £175,000

75% Share Price: £131,250 (rent £113.15 pcm)
Minimum 5% Mortgage Deposit (70% share): £6,562.50
Approximate Service Charges: £26.30 pcm*
Shared Ownership Lease: approx. 998 years
Council Tax Band: A

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 £175,000 and a purchaser would not need to meet the eligibility criteria listed above.