3 bedroom house for sale
2 Woolcoombe Road, BA5 2GZ
Share percentage 50%, full price £390,000, £9,750 Min Deposit.
Share percentage 50%, full price £390,000, £9,750 Min Deposit.
Monthly Cost: £1,629
Rent £477,
Service charge £41,
Mortgage £1,111*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
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.
Summary
3-bedroom Shared Ownership resale available in Wells
Description
A great chance to buy a spacious, recently built, family home. The detached, double fronted property provides more than eleven hundred square foot of accommodation arranged over two floors.
The entrance hall leads to a ground-floor cloakroom, a triple aspect reception room with bay window and to an attractive kitchen/dining room with patio doors, breakfast bar and utility room. Upstairs is a main bedroom also benefits from windows on three sides and features a fitted wardrobe and ensuite shower room. There is a generously-sized second bedroom with fitted wardrobe, a smaller third double bedroom and a simple yet stylish, naturally-lit bathroom.
Well insulated walls, roof and floor, high performance glazing and a modern gas central heating system make for a very good energy efficiency rating. To the side of the house is a garden and, beyond that, a garage and two-car driveway.
The centre of Wells, with its picture book market place and impressive, historic buildings is only a few minutes drive away and can also be reached via brief bus or bike ride. Wookey Hole Caves, Ebbor Gorge National Nature Reserve and the Mendip Hills Area of Outstanding Natural Beauty lie just to the north.
*Information is correct to the best of our knowledge, please speak to the estate agent for more information*
Key Features
- Guideline Minimum Deposit £19,500
- Guideline Income £53.3k Dual | £61.1k Single
- Two Storey, Three Bedroom, Detached House
- Approx. 1118 Sqft Gross Internal Area
- High Performance Glazing
- Bathroom, Shower Room and Cloakroom
- Side Garden
- Garage plus Driveway
- Tenure:Leasehold (125 years from 2021).
- Share Available:50% (£195,000).
- Shared Ownership Rent:£477.06 per month (subject to annual review).
- Service Charge:£41.08 per month (subject to annual review).
- Guideline Minimum Income:Dual - £53,300 | Single - £61,100 (based on minimum share and 10% deposit).
- Council Tax:Band E, Somerset Council. Priority is given to applicants living and/or working in this local authority.
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: E
Property Downloads
Key Information Document Floor PlanMap
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 and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 50%, full price £390,000, £9,750 Min Deposit. Calculated using a representative rate of 5.26%
