2 bedroom house for sale
Dean Wood Close, BN23 8JT
Share percentage 65%, full price £260,000, £16,900 Min Deposit.
Share percentage 65%, full price £260,000, £16,900 Min Deposit.
Monthly Cost: £1,035
Rent £154,
Service charge £23,
Mortgage £858*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Be a first time buyer or not currently named on a mortgage
Demonstrate you meet the minimum income requirements
Demonstrate a deposit sufficient to obtain a mortgage for the property
Summary
Two bedroom semi-detached house in Eastbourne
Description
This two bedroom house is an ideal opportunity to get on to the property ladder with Hastoe. It is being sold under the shared ownership scheme whereby you purchase a share in the property and pay a reduced rent on the remaining Hastoe equity.
Costs:
Full Market Price: £260,000
Minimum Share: 65%
Share Value: £169,000
Monthly Rent: £154.26
Service Charge PCM (including buildings insurance): £23.01
Total Monthly Charge: £177.27
Next rental increase: April 2024
Apply online via the Hastoe sales website
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.
This property has restricted staircasing to ensure the property remains affordable for future generations of local people.
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
Driveway parking
Fitted kitchen
Gas central heating
Double glazing
Over-bath shower
Private garden
Measurements:
Kitchen: 2.5m x 5.4m
Living room: 3m x 4.25m
Bathroom: 2.27m x 1.86m
Bedroom 1: 5m x 2.9m
Bedroom 2: 2.7m x 4.05m
Garden: 13m x 10m
Particulars
Tenure: Leasehold
Lease Length: 92 years
Council Tax Band: C
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 65%, full price £260,000, £16,900 Min Deposit. Calculated using a representative rate of 4.64%
