2 bedroom house for sale
28 Gregg Close, SO32 2FB
Share percentage 40%, full price £295,000, £5,900 Min Deposit.
Share percentage 40%, full price £295,000, £5,900 Min Deposit.
Monthly Cost: £1,132
Rent £406,
Service charge £54,
Mortgage £672*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase.
You can buy a minimum 40% 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.
AFFORDABILITY
The share purchase price is calculated using the full market value and the percentage share purchased. If you buy a 40% share, the share purchase price will be £118,000 and the
rent will be £405.63 a month. If you buy a larger share, you'll pay less rent. The table below shows further examples.
40% share (£118,000) Rent = £405.63
50% share (£147,500) Rent = £338.02
60% share (£177,000) Rent = £270.42
70% share (£206,500) Rent = £202.81
75% share (£221,250) Rent = £169.01
The percentage share and rent amount will change depending on the amount you can afford. You'll receive a worked example after a financial assessment. Initial rent is calculated as 2.75% of the remaining share of the full market value owned by the landlord.
T&Cs *Please note images are for information purposes only and may not represent a true likeness for the units being sold. Some or all images have been digitally furnished to represent how the home could be laid out and the final colours/appearance may differ from the images.*Services Charges will apply, speak to our Sales Agent for more information. Costs are subject to change.
Summary
Two and three bedroom Shared Ownership homes in Swanmore
Description
Situated in a family-friendly environment, Cygnet Grange is convenient for access to both Southampton and Portsmouth. Away from city life, you will also be located close to the beautiful countryside of the Meon Valley – part of the South Downs National Park.
Within the village you will find two pre-schools and a primary and secondary school which are both on New Road and within walking distance of Cygnet Grange, so you’ll soon feel that you’re a part of the community.
Other amenities in the village include pubs, the village hall, leisure centre and a golf
centre. Nearby, the internationally renowned sailing communities of The Solent, Chichester Harbour and the Isle of Wight are a huge draw for sporting enthusiasts, and there are some lovely beaches to explore.
Key Features
- Shared Ownership
- Shares Available From 40%-75%
- 2 & 3 Bedroom Homes
- Travel to Southampton & Portsmouth
- Local Schools
- Parking
Particulars
Tenure: Leasehold
Lease Length: 990 years
Council Tax Band: New build - Council tax band to be determined
Map
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 £295,000, £5,900 Min Deposit. Calculated using a representative rate of 5.26%
