1/6
£66,500
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.
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.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
** This home can also be purchased outright (100% of the value) which is £190,000 and a purchaser would not need to meet the eligibility criteria listed above.
Shared Ownership
This superb modern home is available to buy from as little as £66,500 with a 35% share!
This ground floor apartment benefits from a long lease and no onward chain complications! The property is located in Hitchen, approximately 5 miles from Stevenage and provides a spacious reception room with doors out to a patio, kitchen, modern bathroom and a double bedroom. Outside, there is an allocated parking space.
Hitchin’s proximity to London makes it a popular spot for commuters. There are plenty of parks and green spaces, and it’s also close to the beautiful countryside of Hertfordshire. Nearby Stevenage town centre has a lot to offer: restaurants, bars, pubs, large supermarkets, and several schools.
Road travel is very convenient, thanks to the A1(M) motorway and the A505 and A602 highways, just a 5-minute drive away. London is accessible in under an hour by train.
PRICING & AFFORDABILITY
Full Market Value: £190,000
35% Share Price: £66,500 (rent £505.94 pcm)
Minimum 5% Mortgage Deposit (35% share): £3,325
Approximate Service Charges: £161.26 pcm*
Shared Ownership Lease: approx. 108 years
Council Tax Band: A
You can add locations as 'My Places' and save them to your account. These are locations you wish to commute to and from, and you can specify the maximum time of the commute and by which transport method.
Sown Shared Ownership