Shared ownership information

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.

Example of costs based on a Share of: 35% - £73,750

Open Market Value: £295,000
Rent per month: £507.03
Service Charges per month: £27.86
Buildings insurance per month: £17.31

The more you buy the lower your rent will be. These costs will increase each year with inflation.

How does Shared Ownership work?

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.

Eligibility Criteria

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).
- Have a local connect to the Forest of Dean

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.

Property Layout

Ground Floor

Entrance hall with W/C leading to

Kitchen Diner with fitted oven hob and hood - 4.97m (max) x 3.5m
Living room - French doors to garden and under stairs storage 4.59m x 3.85m

Stairs to first floor:

Bedroom 1 4.59m x 3.85m
Bedroom 2 4.59m (max) x 2.62m
Family Bathroom - Shower over bath

Outside: Private rear garden and 2 allocated parking spaces

Eco

This property has Air Source Heat Pump Heating and Solar Panels

Two Rivers Housing

TwoCan estate agents are advertising this property on behalf of Two Rivers Housing. Two Rivers Housing are the owners of Twocan

Artists Impressions

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.