Share Price £82,500 (from 50% Min. Share)
Full Value £165,000 | £8,250 Min. Deposit
Scheme: Shared Ownership Resalescheck_circle Available now
2 bedroom apartment in Barnstaple - Devon
place Boulder Clay Way, EX31 3WH
A Fantastic Opportunity to Purchase a Two Bedroom Flat on a Shared Ownership (Part Buy/Part Rent) Basis
WHAT IS SHARED OWNERSHIP ?
Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and Homes England outside of London.
IS SHARED OWNERSHIP FOR YOU ?
The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:
Not own another property in the UK or any other country.
Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
Be in full time permanent employment.
Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
Have a good credit history.
If you are still unsure about Shared Ownership or would like more information view[ Facts and Frequently Asked Questions]
SHARED OWNERSHIP(Advertised price represents 50% share. Full market value £165,000). This first-floor flat is part of a recently-built development and appears in excellent condition throughout. The property features spacious, dual-aspect main room with sleek, open-plan kitchen area. There is a large main bedroom plus a second bedroom which, though smaller, is still a comfortable double. The bathroom has attractive limestone-style tiles and useful storage cupboards have been provided in the entrance hallway. Well insulated walls, gas central heating and high performance glazing have resulted in a very good energy-efficiency rating. Roundswell has a large Sainsbury's supermarket plus a selection of other shops. Barnstaple town centre and railway station can be easily reached via bus or cycle. The flat comes with use of a parking space.
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM[HERE; https://bit.ly/2Zk4435]
(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)
Tenure:Leasehold (125 years from 2019).
Minimum Share:50% (£82,500).
Shared Ownership Rent:£194.60 per month (subject to annual review).
Service Charge:Approximately £735.34 for current year.
Guideline Minimum Income:Dual £17,300 | Single £20,200 (based on minimum share and 10% deposit).
Council Tax:Band B, North Devon Council. Priority is given to applicants living and/or working in this local authority.
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone.
- Guideline Minimum Deposit £8,250
- Guideline Income Dual £17.3k | Single £20.2k
- First Floor
- Approx. 633 Sqft Gross Internal Area
- High Performance Glazing
- Open-Plan Reception/Kitchen
- Gas Central Heating
- Parking Space
Download DocumentsLink to the floor plan Property brochure 1 Energy Certificate
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.