A spacious and comfortable two-bedroom, terraced house is now available as shared ownership resale based on a 55% purchase share at £189,750.
A monthly rent of £363.99 applies as well as a monthly service charge of £55.23 (subject to final confirmation).
This property offers a generous living / dining room with access to the private rear garden. Features include:
- living room / dining room
- stylish kitchen
- Bedroom one
- Bedroom two
- telephone points in the hall, lounge and master bedroom
- TV aerial points provided in the lounge and master bedroom
Council tax band C.
Based on a 55% share
Shared ownership is when you buy a share in the property of between 25 and 75 percent of its market value and pay rent on the share that you do not own. The exact percentage is subject to the individual criteria of each new development or scheme.
Most people put down a small deposit on their share (minimum 5 - 15%, depending on your mortgage lender) and take out a mortgage on the rest. You can then 'staircase' your share in the property - building up to 100% in most cases..
Register for shared ownership
You will need to apply to the Help to buy agent at www.helptobuyagent3.org.uk.
Once you have registered with the Help to Buy agent, please email email@example.com and provide your Help to Buy reference number.
Am I eligible?
Serving MOD, all first time buyers and social tenants will be given priority.
If your annual household income is more than £80,000 you will not be eligible.
You will also need £2,000 to cover the legal costs of buying a home, plus enough money saved for your deposit. You must not have loans exceeding £15,000 or be in mortgage/rent arrears. You must be able to obtain a mortgage and prove that you can pay your rent and service charges.
Remember you will also have to pay household bills including gas, electricity and water.