50% Shared Ownership
No Stamp Duty
Available to view by appointment only
This new build 2-bedroom semi-detached property, situated within the Honeyvale Gardens development by Bovis Homes, has been built to a high specification and is available to purchase now on a Shared Ownership basis.
The ground floor of the property comprises a wide entrance hallway, separate modern kitchen equipped with integrated oven, hob and extractor hood, downstairs WC and a spacious living room at the rear. On the upper floor you will find 2 double bedrooms, a useful storage cupboard and a contemporary family bathroom.
The advertised price of £87,500 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 £200.52 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.