1/13
£87,500
Have a local connection to the area
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
This one-bedroom apartment is an ideal opportunity to get on to the property ladder with Hastoe. This property 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: £175,000
Minimum Share: 50%
Share Value: £87,500
Monthly Rent: £224.01
Service Charge PCM (including buildings insurance & sinking fund): £113.96
Total Monthly Charge: £337.97
Next rental increase: April 2026
EPC: C80
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.
If you eventually own your home outright, you’ll no longer pay rent, but may continue to pay a service charge and sinking fund.
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.
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