1 Bed Property For Sale

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.

Price

Full market value £230,000

Shares from 30% PLUS Rent: £368.69
Service charge: £225.91

Property description

GROUND FLOOR

ENTRANCE HALL
An ‘L’ shaped hallway featuring a video entry phone security system, fitted carpet, radiator, inset spotlights, shelving and a 2 large built in storage cupboards one which houses the properties Mechanical Ventilation with Heat Recovery (MVHR) system.

LOUNGE
A bright, dual aspect reception room featuring Amtico style wood effect flooring, double glazed casement windows to the side of the building and a double glazed casement to the back of the building, inset spotlights, radiator, TV, telephone and media points. Leading to…

OPEN PLAN KITCHEN
A range of modern high gloss fitted white wall and black base units with chrome fittings and under unit lighting, featuring a dark marble effect work surface incorporating a stainless one and a half bowl steel sink and drainer with mixer tap, integrated fan assisted oven/grill with four ring ceramic hob and stainless steel extractor fan canopy above, integrated washing machine and dishwasher, space for a freestanding fridge/freezer, Amtico style wood effect flooring, double glazed casement window to the front of the building, radiator and inset spotlights.

BEDROOM
A good sized double bedroom featuring a fitted carpet, double glazed casement window to the side of the property, radiator, pendant light fitting, TV, telephone and media points.

BATHROOM/WC
A generous sized bathroom featuring a modern white bathroom suite with chrome fittings, comprising of a panel enclosed bath with mixer taps and wall mounted shower fitting, pedestal wash basin with mirror and vanity light above, low flush WC, part tiled walls and linoleum floor, chrome wall mounted heated towel rail and inset spotlights.

EXTERIOR
South facing balcony. Secure resident’s bike storage facility.

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.

Origin Housing

Twocan are proud to be advertising these properties on behalf of Origin Housing, who will facilitate any viewings and assess eligibility f