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£72,000
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.
Located in the sought-after Pavilion Gardens development in Blackfield, this modern two bedroom first floor apartment offers a fantastic opportunity for eligible buyers looking to take advantage of the Shared Ownership scheme.
The property boasts a spacious sitting room which opens up to a modern kitchen, two generously sized bedrooms, and a family bathroom. Bedroom two also has direct access to a private balcony. The apartment also comes with one allocated parking space and a 125 year lease.
Situated in Blackfield, the property benefits from a quiet residential setting close to local shops, schools, and everyday amenities. The nearby New Forest National Park offers endless opportunities for walking, cycling, and outdoor pursuits, while the beautiful beaches and coastal paths of the Solent are just a short drive away.
For commuters, Southampton city centre is easily accessible by road in around 30 minutes, while the nearby Hythe ferry provides a scenic route directly into Southampton. There are also regular bus services connecting Blackfield to surrounding towns and villages.
PRICING & AFFORDABILITY
Full Market Value: £180,000
40% Share Price: £72,000 (rent £247.50pcm)
Minimum 5% Mortgage Deposit (40% share): £3,600
Approximate Service Charges: £250.61 pcm*
Lease: 125 years
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