Shared Ownership Costs

LOCAL CONNECTION TO TEWKESBURY

Shared ownership is a part buy part rent property from Two Rivers Housing.
You purchase a share with the help of a mortgage based on affordability and the minimum share being sold.

Open Market Value: £245,000
50% Shared Ownership: £122,500
Rent: £254.84
Service charge and buildings Insurance: £20.28pcm

These costs will increase each year with inflation in April

Approached via door into:

Entrance Hall

Stairs to first floor landing, two storage cupboards.

Cloakroom

WC and wash hand basin.

Kitchen

Front aspect, window, base and wall units, larder unit, worktops, sink and drainer, space for washing machine and fridge freezer, built-in oven and gas hob, extractor hood and wall mounted gas boiler.

Lounge

Rear aspect, window and French style doors to garden.

First Floor Landing

Two storage cupboards.

Bedroom One

Front aspect, window, radiator.

Bedroom Two

Rear aspect, window, radiator.

Bathroom

Bath with shower over, sink and WC.

Outside

Enclosed garden with gate, path to hard standing area, outside tap.

How does Shared Ownership work?

If you bought a home on the open market, you would agree a purchase price through an estate agent. Then you would take out a mortgage to cover the total purchase price of the property minus any deposit you might have available.
With Shared Ownership, the price of the property is fixed at the open market value, as assessed by a qualified valuer. You borrow just enough to cover the share you are buying. This is referred to as equity share.

The equity share amount will be an amount that you can afford, as set out under government guidelines. The total monthly cost of the rent, plus your
mortgage, will be lower than the monthly cost if you bought the property outright with a mortgage.

Disclaimer

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.