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.

Open Market Value: £315,000
30% Shared Ownership: £94,500
Rent per month: £505.31
Service Charges per month: £12.46
Man co per month : £3.02
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.

Property Description

Ground Floor:
Entrance Hall to:
Lounge4.38m x 3.87m
Kitchen/dining 4.25m x 3.73m With built in store cupboard
Downstairs W/C.

Door through to private garden

First Floor:
Landing to
Bed 14.07mx 2.87m
Bed 2 4.56m x 2.23m
Bed 33.52m x 2.60m
Family Bathroom with White suite, Shower over bath
Bath 2.82x1.95

HOUSE TOTAL
Square metres84.00
Square feet904.17
Square yards100.46

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.

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).

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.

Services

All mains services are connected.

Two Rivers Housing

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