1 Bedroom Apartment
50% Shared Ownership
No Stamp Duty
Available to view by appointment only
This contemporary first floor one bedroom apartment with open plan lounge kitchen diner is ideal for first time buyers or those looking to downsize. The property, situated within the Blossom Gate development by Seddon Homes, is due to complete Autumn 2020 and is available to purchase on a Shared Ownership basis.
The apartment comprises a comfortable open plan living room, kitchen and dining area. The kitchen is equipped with integrated hob, oven and extractor hood. A generous master bedroom, a modern bathroom with white sanitary-ware and a useful storage cupboard completes the property. The home also benefits from one allocated residents parking space with electric charging point.
The advertised price of £64,750 represents a 50% share of the property. Rent would therefore be payable on the outstanding 50% share, set at 2.75% per annum. Based on a 50% share, rent would equate to an additional £148.39 per month on top of any required mortgage. You may purchase up to 75% of the total property price upfront.
What is Shared Ownership?
Shared ownership is a government-backed scheme, designed to make stepping onto the property ladder more affordable. Buy between 25% – 75% of a home normally with a mortgage and a reduced deposit, and pay a low-cost rent on the remaining un-purchased share.
Am I eligible to buy a home with shared ownership?
The eligibility criteria for shared ownership is simple; as long as you don’t currently own, or won’t own another property when you move in to a new home, you’re likely to qualify. Your annual household income must not exceed £80,000 and you’ll need to have savings to cover typical purchasing costs such as solicitors fees and your mortgage deposit.
To view this highly sought after property contact Auxesia Homes to arrange an appointment.