Shared Ownership
This modern home is available to buy from as little as £101,500 with a 35% share!
This superb, modern home is well presented throughout and has accommodation that includes: entrance hall, cloakroom, fitted kitchen, lounge/diner, three bedrooms and bathroom. Externally are two allocated parking spaces at the front with a good sized, enclosed garden at the rear.
Great Oldbury is a contemporary development on the edge of Stonehouse, located in Gloucestershire just a short drive from Stroud, Gloucester and Cheltenham. Stonehouse is a small town with lots to see and do in the local area; whether you’re browsing the independent shops, walking along the canal or taking the kids to the farm, there’s no shortage of things to do and places to see close to your home in Stonehouse.
Although Stonehouse is a small town, it has excellent transport connections to towns and cities nearby and across the UK, including a direct train to London and close proximity to the M5 motorway. The town is under 10 minutes away from Stroud by car or five minutes by train, while the journey from Gloucester takes 15 minutes by train or 25 minutes by car. Cheltenham is 25 minutes away from Stonehouse by car or 30 minutes by train.
If you’re going to London, the direct train from Stonehouse to Paddington takes one hour 45 minutes. For holidays and business trips abroad, Bristol Airport is only a 50-minute drive away.
PRICING & AFFORDABILITY
Full Market Value: £290,000
35% Share Price: £101,500 (rent £529.92pcm)
Minimum 5% Mortgage Deposit (35% share): £5,075
Approximate Service Charges: £45.88 pcm*
Shared Ownership Lease: 120 years
Council Tax Band: C
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 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.
