Shared Ownership
This superb modern home is available to buy from as little as £64,000 with a 40% share!
Offered to the market with no onward chain, this well presented first floor apartment has accommodation comprising a spacious open plan kitchen/lounge/diner with direct access to a private balcony, a double bedroom, a modern family bathroom and a separate utility room. Further benefits include allocated parking.
Situated in a popular residential location, the property is well placed for a range of local amenities including supermarkets, cafés, restaurants and leisure facilities, with nearby parks and green spaces offering plenty of opportunities to enjoy the outdoors.
For commuters, the apartment enjoys excellent transport links with easy access to major road networks and nearby public transport services, making travel to surrounding towns and city centres straightforward.
PRICING & AFFORDABILITY
Full Market Value: £160,000
40% Share Price: £64,000 (rent £220.00pcm)
Minimum 5% Mortgage Deposit (40% share): £3,200
Approximate Service Charges: £56.66 pcm*
Lease: 125 years remaining
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.
