3 Bed Shared ownership Home
Large private garden with patio.
Overlooking playing fields
Local connection to FODDC required
Lease extended to 125 years
In need of decoration
Oil fired central heating
2 Allocated parking spaces
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.
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: £112,000 at a 40% Share
Open Market Value: £280,000
Rent per month: £496.98
Service Charges per month: £7.45
Buildings insurance per month: £17.22
Doors leading to kitchen/dining room, lounge and WC
Wall and Floor kitchen units. Space for washing machine. Oven and hob with extractor hood.
1 window to front elevation, 1 window to the right elevation of the property. Oil fired boiler
White low level WC and hand basin.
1 window to rear elevation.
French doors leading to the rear of the property. Window to front elevation. Walk in cupboard.
Doors leading to bathroom and bedrooms.
Rear elevation window.
1 window to rear elevation.
Window
White bathroom suite with over bath shower. Low level WC and hand basin. Window to front elevation.
Large rear garden with shed and side access. 2 parking spaces to the immediate right of the property.
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.
