3 bedroom house for sale
Laurie Shepherd Close, IP19 8LD
Share percentage 50%, full price £350,000, £8,750 Min Deposit.
Share percentage 50%, full price £350,000, £8,750 Min Deposit.
Monthly Cost: £1,430
Rent £401,
Service charge £32,
Mortgage £997*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
At Manor View you can buy a minimum 50% 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 annual household income does not exceed £80,000.
• 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.
Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.
*Service charges are estimated and may subject to change.
Summary
This brand new home is available to buy from as little as £175,000 with a 50% share!
Description
This brand new semi detached home has spacious accommodation to include: entrance hall, kitchen/dining room with a separate living room, ground floor cloakroom, three bedrooms and a bathroom. Externally is off road parking and at the rear is an enclosed garden.
PRICING & AFFORDABILITY
Approximate Size 1089 sq ft
Full Market Value: £350,000
50% Share Price: £175,000 (rent £401.04pcm)
60% Share Price: £210,000 (rent £320.83pcm)
75% Share Price: £262,500 (rent £200.52pcm)
Minimum 5% Mortgage Deposit (50% share): £8,750
Approximate Service Charges: £31.67 pcm*
Shared Ownership Lease: 125 years
Council Tax Band: TBC
Key Features
Brand new Shared Ownership home
Kitchen/diner
Ground floor WC
Garden
Parking
Available immediately
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: New build - Council tax band to be determined
Property Downloads
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 £350,000, £8,750 Min Deposit. Calculated using a representative rate of 5.26%