Shared Ownership
This superb modern home is available to buy from as little as £97,500 with a 50% share!
Situated on the first floor, this well proportioned apartment has accommodation comprising a spacious living room, a separate fitted kitchen, two generous double bedrooms, a modern family bathroom and allocated parking.
Aspen House is conveniently located on the northern edge of Basingstoke, offering easy access to a range of local amenities including supermarkets, schools, cafés and green open spaces. Basingstoke town centre is just a short distance away, providing extensive shopping and leisure facilities, restaurants, bars and the popular Festival Place shopping centre.
For commuters, the property is ideally positioned with excellent road connections via the A339, A33 and M3 (Junctions 6 & 7). Basingstoke railway station offers regular direct services to London Waterloo in around 45 minutes, making this an ideal location for those travelling into the capital.
^Please note that there is staircasing cap on this property meaning the maximum share you can ever own is 75% and it can not be purchased outright.
PRICING & AFFORDABILITY
Full Market Value: £195,000
50% Share Price: £97,500 (rent £540.56pcm)
Minimum 5% Mortgage Deposit (50% share): £4,875
Approximate Service Charges: £125.79pcm*
Lease: 105 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.
LOCAL AREA CONNECTION
Buyer must have a local area connection in order to be eligible. This can be by way of living and/or working in the local borough of Basingstoke and Deane or having immediate family who are currently living. Proof will be required.
*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.
