Shared Ownership
This home is available to buy from as little as £65,000 with a 40% share!
Situated in a popular modern development and within easy reach of Basingstoke train station, The M3 motorway and Festival Place shopping centre is this spacious ground floor apartment available via the Shared Ownership scheme.
Presented in superb condition throughout, the accommodation includes: entrance hall with storage, an open plan lounge/kitchen/diner with doors that open to communal gardens, a spacious double bedroom, a lavish bathroom and an allocated parking space.
PLEASE NOTE: You must have a local area connection to Basingstoke & Deane. This includes living and/or working in the Borough or having a direct family connection.
PRICING & AFFORDABILITY
Full Market Value: £162,500
40% Share Price: £65,000 (rent £284.27pcm)
Minimum 5% Mortgage Deposit (40% share): £3,250
Approximate Service Charges: £158.65pcm*
Lease: 107 years remaining
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.
• Have a local area connection to Basingstoke & Deane. This includes living and/or working in the Borough or having a direct family connection
*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.
