Shared Ownership
This superb modern home is available to buy from as little as £120,000 with a 50% share!
Situated in the popular residential development of Kiln Wood Close, this attractive two bedroom mid terraced home offers well planned accommodation. The property features a bright and spacious living/dining room with double doors opening to the rear garden, a fitted kitchen and a convenient ground floor cloakroom complete the downstairs layout.
Upstairs, there are two well proportioned bedrooms and a modern family bathroom. Additional features include arange of storage cupboards along with allocated parking for two vehicles.
Kiln Wood Close is located in the desirable town of Bovey Tracey, nestled on the edge of Dartmoor National Park. The area is well-known for its welcoming community feel, scenic surroundings, and access to outdoor leisure opportunities. Bovey Tracey offers a good range of local amenities including independent shops, cafés, public houses, a supermarket, primary school, medical centre, and leisure facilities. The nearby countryside provides excellent walking and cycling routes.
For travel, the A38 is easily accessible, providing direct routes to Exeter, Plymouth, and beyond. Exeter offers a mainline railway station with direct services to London and other major cities, as well as an international airport. Regular local bus services connect Bovey Tracey with surrounding towns and Exeter, making commuting and day-to-day travel convenient.
PRICING & AFFORDABILITY
Full Market Value: £240,000
50% Share Price: £120,000 (rent £322.62pcm)
Minimum 5% Mortgage Deposit (50% share): £6,000
Approximate Service Charges: £38.82pcm*
Lease: 123 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.
