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2 Bed Property For Sale

Five Acres Lane, Saltash - shared ownership
£76,800
Five Acres Lane, Saltash - shared ownership
Five Acres Lane, Saltash - shared ownership
Five Acres Lane, Saltash - shared ownership
Five Acres Lane, Saltash - shared ownership

Description

  • 2 Bedroomed end terrace

  • Local connection to cornwall required

  • 10 Year HNBC

  • New Build

  • Shares based on affordability

  • Please refer to the SO Living’s website for full terms and conditions.

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.

For legal reasons, while you are only buying a part-share of the property, you will have a leasehold interest of 990 years where the scheme allows. However, you may buy further shares. This is called ‘staircasing’, and may
eventually progress to outright ownership.

Shared ownership information New AHP

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: 32 %

Open Market Value: £240,000
Rent per month: £340.00
Service Charges per month: £27.07


The more you buy the lower your rent will be. Rent is calculated at 2.5% of the unowned share. These costs will increase each year with inflation.

Room dimentions

Lounge - 4.67 x 3.59 m
Kitchen/ dining - 2.92 x 4.75 m
Bedroom 1 - 3.48 x 4.60 m
Bedroom 2 - 4.60 x 2.96 m
Bathroom - 2.18 x 1.86 m

78.2 m2

Local connection to Cornwall apply

Terms and conditions – please refer to the SO Living’s website for full terms and conditions.

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.

Plymouth Community Homes

Twocan are proud to be advertising these properties on behalf of Plymouth Community Housing. We will share your data with them to facilitate any viewings and assess eligibility for shared ownership.

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.

Location

EPC

To discuss this property call our friendly team

01531 829300

or Book a viewing
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