Shared Ownership

This superb modern home is available to buy from as little as £227,500 with a 70% share!

Offered to the market with no onward chain complications is this two bedroom third floor apartment within a modern development. The property provides bright, well presented accommodation – entrance hall, bathroom, two bedrooms and a feature open plan kitchen/living space with doors to a private balcony. Further benefits include a parking permit and a long lease of 121 years.

Ware is a market town located in Hertfordshire with good rail links in to London via Ware Train Station. The town is also well situated for access to the M25. Within Ware itself, there is a High Street offering a range of shops and a selection of eateries. There is a local sports facility, and various parks and green spaces suitable for walking, cycling and relaxation.


PRICING & AFFORDABILITY

Full Market Value: £325,000

70% Share Price: £227,500 (rent £245.78pcm)
Minimum 5% Mortgage Deposit (% share): £11,375
Approximate Service Charges: £156,65pcm*
Shared Ownership Lease: approx. 121 years
Council Tax Band: D

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 £325,000 and a purchaser would not need to meet the eligibility criteria listed above.
Service Charge: 1879.8.