Shared Ownership
This superb modern home is available to buy from as little as £77,000 with a 35% share!
A well presented two bedroom first floor apartment offered to the market with no onward chain.
The accommodation comprises a generous kitchen/reception room providing ample space for both living and dining, two good sized bedrooms (en suite to bedroom one) and a bathroom.
The property enjoys a prime central position within Stevenage, placing a wide range of amenities within easy reach. Nearby you’ll find supermarkets, cafés, restaurants, and retail at the town centre, as well as leisure facilities, parks and green spaces. The area also benefits from schools, healthcare services and everyday essentials all close by, making day-to-day living highly convenient.
Stevenage is particularly popular with commuters thanks to its excellent transport connections. The mainline railway station is within easy reach and provides fast, direct services to London King’s Cross and St Pancras International in around 20–30 minutes. The A1(M) is also readily accessible, offering strong road links to London, the M25 and the wider region.
PRICING & AFFORDABILITY
Full Market Value: £220,000
35% Share Price: £77,000 (rent £515.12pcm)
Minimum 5% Mortgage Deposit (35% share): £3,850
Approximate Service Charges: £250.37pcm*
Lease: 189 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.
** This home can also be purchased outright (100% of the value) which is £220,000 and a purchaser would not need to meet the eligibility criteria listed above.
