Shared Ownership
This superb modern home is available to buy from as little as £90,000 with a 40% share!
A two bedroom ground floor apartment with allocated parking for two cars. The property provides well planned accommodation comprising entrance hall, bathroom, kitchen, two bedrooms and an 18ft reception room.
Garstons Way in Holybourne, a suburb of Alton in Hampshire, is conveniently located near a variety of amenities that cater to daily needs and leisure activities. The property is an approximate 4 minute drive from Alton Railway Station which provides regular services to London Waterloo (1 hour 20 minutes journey time) There are also various local bus routes connecting Alton to local villages and towns including Winchester, Guildford and Basingstoke.
PRICING & AFFORDABILITY
Full Market Value: £225,000
40% Share Price: £90,000 (rent £342.52pcm)
Minimum 5% Mortgage Deposit (% share): £4,500
Approximate Service Charges: £136.36 pcm*
Shared Ownership Lease: approx. 114 years
Council Tax Band: C
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.
*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 £225,000 and a purchaser would not need to meet the eligibility criteria listed above.
