Shared Ownership
This superb modern home is available to buy from as little as £142,500 with a 50% share!
A well-presented and thoughtfully designed two-bedroom apartment offering bright, contemporary living accommodation in a convenient residential location close to Royston’s amenities and transport links.
The property features a spacious open-plan kitchen/living area, creating an excellent space for both everyday living and entertaining. There are two well-proportioned bedrooms, with the principal bedroom benefiting from an en-suite shower room, while a separate family bathroom serves the remainder of the accommodation.
Outside, there is allocated residents parking and the property benefits from a lease with 112 years remaining.
Further advantages include useful internal storage, a practical layout throughout, and an abundance of natural light. The apartment would make an ideal first-time purchase or low-maintenance home for those looking to enjoy modern living within easy reach of local shops, restaurants, schools, and mainline rail services.
PRICING & AFFORDABILITY
Full Market Value: £285,000
50% Share Price: £142,500 (rent £319.44 pcm)
Minimum 5% Mortgage Deposit (% share): £7,125
Approximate Service Charges: £190.19 pcm*
Lease: 112 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 £90,000.
• 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 £285,000 and a purchaser would not need to meet the eligibility criteria listed above.
