3 bedroom house for sale
Iford Close, SN3 6DH
Share percentage 40%, full price £300,000, £6,000 Min Deposit.
Share percentage 40%, full price £300,000, £6,000 Min Deposit
Monthly Cost: £1,096
Rent £407,
Service charge £37,
Mortgage £652*
Calculated using a representative rate of 4.78%
Calculate estimated monthly costs
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 £300,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £120,000 with a 40% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £120,000 with a 40% share!
The well presented double fronted three bedroom home provides spacious, well planned accommodation and is located in Coate Village. On the ground floor, there is a spacious living room, large kitchen/dining room and a downstairs cloakroom. Upstairs, there are three well proportioned bedrooms and a bathroom. Outside, there is a car port providing parking and a private garden at the rear.
Coate is located approximately 3 miles from Swindon town centre and provides some every day amenities. There are various parks and outdoor spaces nearby and a much broader range of amenities in Swindon itself. A popular attraction is Coate Country Water Park offering walking trails, splash parks, a café, and more.
Swindon Railway Station operates regular services to London, Bristol, Cardiff and other locations.
Swindon Outlet is a major shopping hub providing a variety of shops, cafes and kids play areas.
PRICING & AFFORDABILITY
Full Market Value: £300,000
40% Share Price: £120,000 (rent £406.61 pcm)
Minimum 5% Mortgage Deposit (40% share): £6,000
Approximate Service Charges: £37.16pcm*
Lease: 116 years
Key Features
Modern shared ownership home
Three bedrooms
Spacious living room
Kitchen/dining room
Private garden
Car port
No onward chain
Particulars
Tenure: Leasehold
Lease Length: 116 years
Council Tax Band: D
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: n/a
Outside Space/Garden: n/a
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 40%, full price £300,000, £6,000 Min Deposit. Calculated using a representative rate of 4.78%
