Share Price £92,000 (from 40% Min. Share)

Full Value £230,000 | £4,600 Min. Deposit

Scheme: Shared Ownership Resales

Under offer

2 bedroom house in Littlehampton - West Sussex

place Snowdrop Close, BN17 6WD

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Optivo Resales

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Optivo are delighted to offer for sale this well-presented 2 bedroom mid-terrace house in Littlehampton.


Eligibility

You may be eligible for this property if:

You have a gross household income of no more than £80,000 per annum when eligible to purchase.
You are unable to purchase a suitable home to meet your housing needs on the open market.
You do not already own a home or you will have sold your current home before you purchase or rent.
To purchase this 40% minimum share you will need a minimum joint household income of £26,246 and available savings of £4,600 for a 5% mortgage deposit.


Description

The current market value is £230,000 for 100%. The minimum 40% share available is priced at £92,000, current rent payable £314.05 pcm, rent is subject to annual reviews. Service charges are currently £9.50 pcm.

Viewings by appointment only. Please note Social Distancing measures need to be followed. Contact Optivo resales for the vendors details.

If you would like to apply after you have conducted a viewing, a PDF writable application form can be saved from the Brochure Section on this advert. Please email a fully completed copy to resales@optivo.org.uk or call 020 803 62837

Application forms need to be returned to Optivo by 18th August 2020

Please note though that if a high volume of applications is received, the deadline might be brought forward.

*Please note the successful applicant will be required to pay a £250 non-refundable reservation fee once offered the property.

Local information

Littlehampton offers a range of amenities, eating establishments and leisure facilities, and the River Arun estuary

and beaches are within easy walking distance. The larger towns of Worthing to the East and Chichester to the

West offer a more comprehensive range of amenities, and are readily accessed by the A259 and A27 link roads.

Thames link and Southern trains run to London mail line stations


Key Features

Full market value £230,000

Share available and price 40% £92,000

Current rent payable £314.05

Monthly service charge £9.50

Lease term 77 years

EPC rating C75

Features

2 Bedroom House

The property has 2 allocated parking spaces.

Floor Area 61 mts sq.

Construction

Floors are a mixture of solid concrete and suspended timber boarding.

The roof is pitched with concrete tiles

The main walls are of cavity construction with facing brick externally.

Windows are of Timber with double glazing

Services

Mains electricity, gas, water and drainage are connected

Grounds

There is a paved pedestrian entrance with a shingle frontage.


Download Documents

Property brochure 1

Accessibility

F – General Needs

General needs housing does not meet any of the above criteria. Properties in this category will have more than four steps or a ramp access that is steeper than 1:10 to access the property front door. These properties should be marketed with the number of steps to access the property as this will provide an additional factor for helping people choosing what to bid for.


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Calculate Monthly Cost

Share price
£ 92,000
Min. £92,000
Share percentage
Min. 40%
Your deposit
Min. £4,600
Monthly cost*
£784
Cost breakdown
£316
Rent
£10
Service charge
£458
Mortgage*
Calculated using a representative rate of 3.94%
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Optivo Resales

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Disclaimer

The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

  • Rent: this is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes)
  • Service Charge: covers maintenance costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.


NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.