2 bedroom house for sale
Bromyard Road, WR2 5FB
Share percentage 40%, full price £260,000, £5,200 Min Deposit.
Share percentage 40%, full price £260,000, £5,200 Min Deposit.
Monthly Cost: £978
Rent £358,
Service charge £27,
Mortgage £593*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
For those looking to buy a Shared Ownership home, there are some eligibility requirements that must be met. The general eligibility criteria for Shared Ownership is as follows:
You must be at least 18 years old.
Your annual household income must be less than £80,000.
You cannot own another home. Shared Ownership purchasers are often first time buyers but if you do already own another property (either in the UK or abroad), you must be in the process of selling it.
You should not be able to afford to buy a home suitable for your housing needs on the open market.
You must show you are not in mortgage or rent arrears.
You must be able to demonstrate that you have a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home during your
Additionally, you will generally need between 5-10% of the equity share that you’re purchasing as a deposit, and should have access to at least £4,000 to cover the other costs of buying a property. This is a guideline figure and the actual amount may vary. For more information, check out the costs associated with buying a Shared Ownership home.
Summary
Two bedroom Shared Ownership Homes with shares starting from just £104,000 for 40%
Description
Stonewater, working in partnership with Worcester City Council, present 48 homes for shared ownership and eight for rent-to-buy at their Bromyard Road development on the outskirts of Worcester. In total there will be 120 affordable homes at the development which are being built by Vistry Partnerships West Midlands.
PLOT 3 / 21 / 40 / 45 / 50 / 51 / 63 / 64 / 65 / 91 / 95
Two bedroom semi-detached home (With the exception of Plot 91* being an end-terrace home.
This two bedroom semi-detached property is the perfect first starter home if you are looking to step foot onto the property ladder. Comprising of kitchen/dining area to the front of the property with storage and a downstairs W.C, including a spacious living room to the rear with french doors opening up onto the rear garden. Upstairs offers two double bedrooms including cupboard space with a family bathroom. This home further benefits from two car parking spaces, an air source heat pump system and a 125 year lease.
Price example:
Open market value: £260,000
40% share prices from: £104,000
Monthly rent based on a 40% share: £357.50
Monthly service charge: £27.16
To speak with our experienced Shared Ownership sales team call us today or send an email to Bromyardroad@connells.co.uk
Key Features
Two bedroom semi-detached home
Kitchen/ dining area
Living area to rear with french doors onto rear garden
Two car parking spaces
Air source heat pump eco & low carbon emission
Shares from 40-75% and prices starting from £104,000
Communal outside space with fruit and vegetable gardens
10 year NHBC warranty
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: Not specified
Property Downloads
Floor Plan Brochure Price ListMap
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 40%, full price £260,000, £5,200 Min Deposit. Calculated using a representative rate of 5.26%
Connells - West Midlands
