This beautiful two-bedroom shared ownership home offers a separate living room and a modern kitchen/diner, with downstairs cloakroom.
on the first floor you will find a primary bedroom, a second double room and contemporary bathroom. This
home comes with good storage space throughout.

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 125 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: 50%

Open Market Value: £215000
Rent per month: £227.54
Service Charges per month: £12.16

Property description

The accommodation comprises….
Ground floor
This beautiful two-bedroom home offers a separate living room and a modern kitchen/diner, with downstairs cloakroom.

First Floor
On the first floor is a primary bedroom, a second double room and contemporary bathroom. This home comes with good storage space throughout.

Outside
Front Allocated parking for two vehicles.
Rear Enclosed garden laid to lawn with a patio area.

Lease of 125 years from 18 April 2019.


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

Kitchen / Diner 4.2m x 3.4m
Living room 3.6m x 3.5m
WC 1.5m x 1.1m
Bedroom 1 4.6m x 2.8m
Bedroom 2 4.6m x 2.7m
Bathroom 2.2m x 2.1m

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.