Shared Ownership
This superb modern home is available to buy from as little as £160,000 with a 40% share!
Offered to the market with no onward chain, this beautifully presented end of terrace home features a spacious open plan kitchen, living and dining room stretching over 30ft, a downstairs WC, two generous double bedrooms and a modern family bathroom. Externally is an enclosed rear garden and driveway parking for two cars.
Situated in the popular town of Arlesey, the property enjoys a convenient location close to a range of local amenities including supermarkets, cafés, schools and leisure facilities. The nearby market towns of Hitchin and Letchworth Garden City provide an even wider selection of shopping, dining and entertainment options, while plenty of green open spaces and countryside walks are close by.
Excellent transport links make this an ideal commuter location. Arlesey railway station offers regular direct services into London St Pancras in around 40 minutes, while the nearby A1(M) provides straightforward road connections to Stevenage, Cambridge, Bedford and beyond. The property also benefits from allocated parking, adding further convenience.
PRICING & AFFORDABILITY
Full Market Value: £400,000
40% Share Price: £160,000 (rent £540.68pcm)
Minimum 5% Mortgage Deposit (40% share): £8,000
Approximate Service Charges: £57.54pcm*
Lease: 120 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.
