Ask the seller of Shared Ownership. Daffodil Drive, Mirum Park, Lydney a question
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2 bed semi detached 45% shared ownership home is located on the ever popular residential area of Lydney which has a number of facilities including local primary schools, shops, doctors and pubs. Easy commuting distance to Newport, Cardiff, Chepstow, Bristol and Gloucester.
The accommodation comprises of entrance hall through to lounge/kitchen, WC, patio doors to the rear garden with rear access. On the first floor there are two bedrooms, bathroom with shower over bath and storage cupboard.
This property also benefits from gas central heating, double glazing, enclosed rear garden, parking for 2 cars and front garden.
You must have a local connection to the Forest of Dean.
Open Market Value: £220,000
45% Shared Ownership: £99,000
Rent, Service charge & Insurance: £331.00pcm
These costs will increase each year with inflation
LOCAL CONNECTION TO FOREST OF DEAN
Fitted kitchen with range of wall and base units, sink, space for washing machine and fridge/freezer. Electric oven with gas hob with hood over. Window to front elevation.
White wash hand basin and low level WC
Doors to two bedrooms, bathroom and storage cupboard. Access to loft space.
Window to front elevation
White bathroom suite with shower over bath, Low level WC and wash hand basin.
Window to rear elevation
Garden to rear with side access. 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 of 990 years where the scheme allows. However, you may buy further shares. This is called ‘staircasing’, and may
eventually progress to outright ownership.
TwoCan estate agents are advertising this property on behalf of Two Rivers Housing. Two Rivers Housing are the owners of Twocan and the Centigen brand.
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.