2 bedroom house for sale
Hollywell Meadow, North Molton, EX36 3GH
Share percentage 10.00%, full price £265,000, £2,650 Deposit.
Share percentage 10.00%, full price £265,000, £2,650 Deposit
Monthly Cost: £643
Rent £455,
Service charge £57,
Mortgage £131*
Calculated using a representative rate of 4.42%
Calculate estimated monthly costs
You must be eligible for the shared ownership scheme
Demonstrate you meet the minimum income requirements
Demonstrate a deposit sufficient to obtain a mortgage for the property
Have a local connection to the area
Summary
2-bed end of terrace house in North Molton
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:
Full market price: £265,000
Minimum share: 25%
Share value: £66,250
Monthly rent: £455.47
Estimated service charge: £56.56
EPC: B87
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
Allocated parking
Private garden
Fitted kitchen
Double glazing
Downstairs WC
Air source heat pump
Restricted to 80% maximum ownership
Measurements:
Kitchen/dining: 5.49m x 4.04m
Living room: 5.49m x 5.08m
Bedroom 1: 5.49m x 4.93m
Bedroom 2: 5.49m x 5.03m
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: New build - Council tax band to be determined
Property Downloads
Price ListMap
Material Information
Total rooms:
Furnished: Unfurnished
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: Yes - Allocated
Outside Space/Garden: Yes - Private Garden
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
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 10%, full price £265,000, £2,650 Min Deposit. Calculated using a representative rate of 4.42%
