Shared Ownership
This brand new home is available to buy from as little as £82,000 with a 25% share!
**Reserve this home and receive £500 towards your legal fees^**
Nestled on the edge of the picturesque market town of Settle, Scholars Gate offers a superb collection of contemporary Shared Ownership homes, providing an affordable route onto the property ladder in one of the Yorkshire Dales' most sought-after locations. With only a small selection of Shared Ownership houses remaining, this is an excellent opportunity to enjoy modern, energy-efficient living surrounded by breathtaking countryside, without compromising on quality or lifestyle.
Perfectly positioned within walking distance of Settle's independent shops, cafés, pubs and railway station, Scholars Gate combines the charm of a thriving rural community with excellent everyday convenience. Designed with modern family life in mind, these thoughtfully crafted homes benefit from spacious layouts, high-quality finishes and energy-efficient features, making them ideal for first-time buyers and growing families looking to put down roots in an exceptional setting.
This impressive 2.5-storey home has been thoughtfully designed to offer spacious, energy-efficient living for today's modern families. Each home benefits from a private rear garden and off road parking, combining contemporary style with everyday practicality.
The heart of the home is the superb open plan kitchen, dining and living space, which spans the entire ground floor to create a bright and sociable environment that's perfect for family life and entertaining. A convenient downstairs WC adds further practicality, while the upper floors provide flexible and well proportioned accommodation. The first floor features a generous double bedroom and a stylish three piece family bathroom, with two further spacious double bedrooms occupying the top floor.
Every home is finished with quality carpets and fitted blinds throughout, gas central heating, smoke detectors, stylish uPVC windows and doors, and a fresh neutral décor, ensuring you can move straight in and make yourself at home.
PRICING & AFFORDABILITY
Full Market Value: £328,000
25% Share Price: £82,000 (rent £563.75pcm)
50% Share Price: £164,000 (rent £375.83pcm)
75% Share Price: £246,000 (rent £187.92pcm)
Minimum 5% Mortgage Deposit (25% share): £4,100
Approximate Service Charges: £35.32 pcm*
Shared Ownership Lease: 999 years
Council Tax Band: TBC
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.
At Scholars Gate you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
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 the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.
*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.
**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.
^Terms and conditions apply – please speak to a sales representative for more information
