Shared Ownership
This superb modern home is available to buy from as little as £97,500 with a 50% share!
Situated in the residential area of Houghton Regis, this spacious one bedroom apartment offers well-proportioned accommodation, making it an ideal choice for first-time buyers or those looking to downsize.
The property comprises an entrance hallway leading to a generous living/dining room, a separate fitted kitchen, a spacious double bedroom and a bathroom. Further benefits include useful built-in storage and a small private garden, providing excellent outdoor space to enjoy. The property also comes with a parking space.
Box Crescent is conveniently positioned for access to local shops, supermarkets and everyday amenities, with nearby Dunstable and Luton offering a wider range of shopping, leisure and transport facilities. The location also provides convenient access to the M1 motorway.
PRICING & AFFORDABILITY
Full Market Value: £195,000
50% Share Price: £97,500 (rent £322.03 pcm)
Minimum 5% Mortgage Deposit (50% share): £4,875
Approximate Service Charges: £97.07pcm*
Lease: 994 years
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 £195,000 and a purchaser would not need to meet the eligibility criteria listed above.
Council Tax Band A
