Shared Ownership
This superb modern home is available to buy from as little as £87,500 with a 25% share!
Offered to the market with no onward chain, this spacious mid terrace home provides bright and versatile accommodation arranged over two floors. The ground floor comprises an entrance hall with a cloakroom, kitchen/diner and separate living room. Upstairs, the property offers three bedrooms and a bathroom. Outside is allocated parking and an enclosed garden.
Situated on Wheatear Road in the popular Boorley Park development, the property enjoys easy access to a range of local amenities, schools and green open spaces. Nearby Botley village offers a variety of shops, cafés, pubs and everyday conveniences, while Hedge End Retail Park provides larger supermarkets and retail outlets. The area also offers pleasant walking routes, parks and countryside nearby.
The property is ideally positioned for commuters, with excellent transport connections close at hand. Hedge End and Botley railway stations provide services to Southampton, Portsmouth and London Waterloo, while the nearby M27 motorway offers convenient road links across the South Coast and beyond. Southampton Airport is also within easy reach.
PRICING & AFFORDABILITY
Full Market Value: £350,000
25% Share Price: £87,500 (rent £588.37pcm)
Minimum 5% Mortgage Deposit (25% share): £4,375
Approximate Service Charges: £63.51pcm*
Lease: 122 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.
The property has been digitally furnished to demonstrate how the home could be laid out. None of the fixtures and fittings portrayed in the images form part of the sale.
