2 bedroom house for sale
Plot 5 (No 21), Sheepwash, EX21 5ED
Share percentage 25%, full price £225,000, £5,625 Min Deposit.
Share percentage 25%, full price £225,000, £5,625 Min Deposit.
Monthly Cost: £712
Rent £387,
Service charge £35,
Mortgage £290*
Calculated using a representative rate of 4.80%
Calculate estimated monthly costs
Be eligible for the shared ownership scheme
Can demonstrate you meet the minimum income requirements
Can demonstrate a deposit sufficient to obtain a mortgage for the property
Have a local connection to the area
Summary
Two bedroom, semi-detached house
Description
This property is an ideal opportunity for a first time buyer to get onto the property ladder with Hastoe.
It is being sold under a shared ownership scheme whereby you purchase a share in the property and pay a reduced rent on the remaining Hastoe equity.
Costs:
Plot 5 - 2 bedroom house
Full market price: £225,000
Minimum share: 25%
Share value: £56,250
Monthly rent: £386.72
Estimated service charge: £35.00
What is shared ownership?
Shared ownership is a scheme designed to help those who wouldn’t otherwise be able to purchase a home of their own. This may be because you can’t meet the full mortgage repayments, save a sufficient deposit, or both. With shared ownership, you buy a percentage of your home and pay a reduced rent on the share you don’t own
How does shared ownership work?
You will buy a percentage share of a home, independently priced at market value. Hastoe will charge you rent on the share you don’t own plus a service charge. This service charge covers things like buildings insurance and estate maintenance.
About Hastoe:
Hastoe owns and manages over 7,500 homes in 70 local authority areas. Our properties are predominantly rural and we specialise in providing sustainable and affordable rural housing to enable local people to remain within their communities.
Key Features
Two allocated parking spaces
Private garden
Fitted kitchen
Double glazing
Central heating
Downstairs WC
Can staircase to 100%
Energy Efficiency Rating: B89
Measurements:
Living room/Dining room: 4.59m x 4.30m
Kitchen: 3.13m x 2.53m
WC: 2.08m x 1.22m
Bedroom 1: 4.59m x 3.13m
Bedroom 2: 4.59m x 3.41m
Bathroom: 2.11m x 2.07m
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: New build - Council tax band to be determined
Property Downloads
Brochure Price List Energy CertificateMap
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 25%, full price £225,000, £5,625 Min Deposit. Calculated using a representative rate of 4.80%
