Share percentage 45%, full price £285,000, £6,413 Min Deposit.
Monthly Cost: £1,052
Rent £359, Service charge £54, Mortgage £639*
Calculated using a representative rate of 3.94%
Calculate estimated monthly costs
- Your household income does not exceed £80,000 (outside of London) and £90,000 (inside of London)
- You have a deposit of at least 5% of the share value
- You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
- This will be your only residence.
- You are a permanent UK resident or have indefinite right to remain.
Lovely 3 bedroom semi-detached house in the Paddocks development. The price advertised represents purchasing a 45% share of the house.
This property is available to buy from as little as £213,750 with a 75% share!
At the very hub of Picket Twenty, a community centre, day nursery and primary school are being provided, along with shopping facilities for day-to-day needs. Parks with children’s play areas are also a feature on this development. Further opportunities for outdoor leisure come with the provision of a magnificent 64-acre urban park. Complete with a sports pavilion, football pitches, cricket pitch, tennis court, play area and multi use games centre - this large open space, so close to home, is bound to be popular with all members of the family. The Paddocks, Twenty-One, is approximately 2 miles south-east of Andover town centre, where a range of pubs, cafés and restaurants are located. The main shopping area is around the High Street. On offer is a superb shopping centre, the Chantry Centre, which is a home for many of Andover’s biggest and best stores. Built to ‘The Chester’ design, the accommodation includes: entrance hall, kitchen/diner, spacious lounge, cloakroom, three bedrooms, bathroom, off road parking and an enclosed rear garden.
PRICING & AFFORDABILITY
Approximate Size: 81.01 sq m
Full Market Value: £285,000
40% Share Price: £114,000 (rent £391.88pcm)
50% Share Price: £142,500 (rent £326.56pcm)
75% Share Price: £213,750 (rent £163.28pcm)
Minimum 5% Mortgage Deposit (40% share): £5,700
Approximate Service Charges: £54.24 pcm
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright. At The Paddocks you can buy a minimum 40% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
To be eligible for shared ownership you would need to meet the following criteria:
• Your household income does not exceed £80,000 (outside of London) and £90,000 (inside of London)
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain
Service charges are estimated and may subject to change.
*These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information. Leaders Romans Group are selling the homes on behalf of Sage Housing. Sage Housing is a Registered Provider committed to providing high quality affordable homes across England.
- 3 bedroom Semi-Detached House
- Integrated Oven, hob and extractor
- Space for Fridge/freezer and Washing Machine
- French doors from the lounge to garden
- Family bathroom with shower over bath
- Full height tiling around bath and shower screen
- Ground Floor W/C
- Allocated parking
- Rear turfed garden
- Flooring throughout
Property DownloadsFloor Plan Energy Certificate
The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together, rent, service charge and mortgage.
- 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.
Share percentage 45%, full price £285,000, £6,413 Min Deposit. Calculated using a representative rate of 3.94%