Shared ownership is a part buy part rent property from a registered landlord
You purchase a share with the help of a mortgage based on your affordability.
OMV - £270,000
25% Share - £67,500
Rent on remaining share - £441.15pcm (please note the rent element of this payment will increase every April)
Management Fee - £3.06pcm
Buildings Insurance - £8.81pcm
The more you buy the lower your rent will be. These costs will increase each year with inflation.
Shared Ownership is a government scheme that offers you the chance to buy a share of a property from a housing association, a non-profit-making body that provides homes. Because you only own a part of the property, you can buy it with a smaller deposit and mortgage.
A smaller mortgage means smaller repayments but you’ll also need to pay:
- rent on the share of the property you do not yet own
- monthly service charges
Shared Ownership homes can be new builds, existing properties, houses or flats. All Shared Ownership properties are leasehold, even houses.
To be eligible for Shared Ownership you need to:
- be a first-time buyer, an existing shared ownership homeowner, or a former homeowner who can’t afford to buy now
- be over 18 years old
- have an annual household income of less than £80,000 (£90,000 in London).
If you wish to buy one of these properties we need to assess your eligibility for shared ownership. For this we need to see:
•Proof of ID
•Proof of address
You will also be required to complete an application form and an affordability calculation.
Door to lounge, stairs to first floor
Window to front elevation, door to kitchen/diner
Fitted kitchen with range of wall and base units, stainless steel sink with mixer tap, space for washing machine and fridge/freezer. Electric oven with gas hob with hood over. Window to front elevation and door to WC and rear garden
Low level WC and wash hand basin
Landing with doors to 2 bedrooms and bathroom
Window to front elevation and storage cupboard
Window to rear elevation
White bathroom suite with shower over bath, low level WC and wash hand basin. Window to rear elevation.
Enclosed rear garden with side access to 2 allocated parking spaces.
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale.
All measurements are approximate. We have not checked the serviceability of any appliances, fixtures or utilities (i.e. water, electricity, gas) which may be included in the sale. We cannot guarantee building regulations or planning permission has been approved and all prospective purchasers should satisfy themselves on these points prior to entering into a contract. Consumer Protection from Unfair Trading Regulations 2008. The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.
TwoCan estate agents are advertising this property on behalf of Two Rivers Housing. Two Rivers Housing are the owners of Twocan
Similar Properties
