Property description
The separate living room is flooded with light from the two windows and gives you somewhere to escape and unwind. The open-plan kitchen and dining area has the bonus of a utility room and is the perfect place to bring families together. Add to this three bedrooms, an en-suite to the main bedroom and a family bathroom, there's enough space for everyone!
What is shared ownership?Shared ownership is a government-backed scheme that makes it easier for you to buy an affordable stake in a property. The share you buy is dependent on your financial and personal circumstances. It can be from a minimum of 25% to a maximum of 75% share of the full market value of the property. You may be able to buy further shares at a later stage and in most instances you will be able to buy up to 100% of the shares in your home and own it outright. However, in some cases there may be restrictions on when you can buy a further share or on the maximum total share you can own.Do I Qualify?You qualify for shared ownership if you: Have a household income of under £80,000 (less than £90,000 in London) Don’t currently own your home and can’t afford to on the open market Can afford the minimum deposit Pass an affordability check to make sure you can get a mortgage
* The full market value of this home is £275,000 but, with shared ownership, you could purchase an initial 25% share for just £68,750 and pay a monthly rent on the remaining share. If you’re buying with a mortgage you may only need a deposit of 5% of the amount you borrow, meaning your deposit could be as low as £3,438.
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