Shared Ownership
This superb modern home is available to buy from as little as £102,000 with a 40% share!
ituated in the sought-after village of Gittisham, this well-presented two-bedroom terraced home offers approximately 812 sq ft of bright and spacious accommodation. The ground floor comprises a generous reception room with French doors opening onto the rear garden, a modern fitted kitchen and a convenient downstairs cloakroom. Upstairs, there are two well-proportioned double bedrooms and a contemporary family bathroom. The property also benefits from two allocated parking spaces, providing added convenience.
Located on Meadow Acre Road, the property enjoys a peaceful setting while remaining within easy reach of the market town of Honiton, offering a range of independent shops, supermarkets, cafés, restaurants and everyday amenities. The surrounding East Devon countryside provides an abundance of scenic walks, with the stunning Jurassic Coast also within easy driving distance.
For commuters, Honiton railway station offers direct services to Exeter, London Waterloo and beyond, while the nearby A30 provides excellent road links across Devon and into Somerset. Combining modern accommodation, a desirable village location and excellent transport connections, this fantastic home is not to be missed.
PRICING & AFFORDABILITY
Full Market Value: £255,000
40% Share Price: £102,000 (rent £391.20pcm)
Minimum 5% Mortgage Deposit (40% share): £5,100
Approximate Service Charges: £45.81pcm*
Lease: 122 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 £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.
PLEASE NOTE: You must have a connection to the parish of Gittisham - either live for 3 out of last 5 years or formally for a continuous period of 5 years., have worked for min 16 hrs/week for at least the last 12 months, or have an iImmediate family who is current resident and has been for at least 5 years immediately prior and is in need of support
*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.
