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£114,000
This shared ownership home is available from just £114,000 for a 40% share!
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 £90,000.
• 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 £285,000 and a purchaser would not need to meet the eligibility criteria listed above.
Shared Ownership
This shared ownership home is available from just £114,000 for a 40% share!
This modern semi-detached house was built in 2023 and provides open plan living beautifully presented throughout. Downstairs is an open plan kitchen/living/dining space with doors opening on to a private garden at the rear. Upstairs there are two bedrooms and a family bathroom.
Marston Mortaine is located approximately 9 miles south west of Bedford (20 minutes or so by car) and within easy reach of Milton Keynes. The village is equipped with several convenience stores, a doctors surgery, pubs and takeaways.
There is easy access to the M1 with fast access to London and other surrounding towns and cities. Millbrook train station provides links to Bedford and Milton Keynes.
PRICING & AFFORDABILITY
Full Market Value: £285,000
30% Share Price: £114,000 (rent £460 pcm)
Minimum 5% Mortgage Deposit (30% share): £6,750
Approximate Service Charges: £5.44 pcm*
Lease: 997 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