Shared Ownership
This superb modern home is available to buy from as little as £102,000 with a 40% share!
Available with no onward chain, this well presented two bedroom end semi detached home is an excellent opportunity to step onto the property ladder through Shared Ownership.
Located in the sought after East Wichel area of Swindon, the property offers modern, well balanced accommodation across two floors including a modern fitted kitchen, downstairs WC, and a spacious lounge/diner with French doors opening out to the rear garden. To the first floor are two double bedrooms and a family bathroom. Externally is an enclosed rear garden with off road parking at the back of the house accessed from the rear garden.
East Wichel is a popular, family friendly community with a range of local amenities including a convenience store, café, primary school, and green spaces right on your doorstep. The nearby Old Town offers an excellent selection of independent shops, restaurants, and pubs, while Swindon town centre provides larger retail outlets and leisure facilities.
For commuters, the property is ideally situated with excellent transport connections. There is easy access to the M4 (Junction 15), making travel to London, Reading, Bristol, and Bath straightforward along with regular bus services into Swindon town centre and Swindon railway station (approx. 10 minutes by car) offers direct services to London Paddington in under an hour, as well as connections to Bristol, Bath, and the South West.
PRICING & AFFORDABILITY
Full Market Value: £255,000
40% Share Price: £102,000 (rent £350.63pcm)
50% Share Price: £140,250 (rent £292.19pcm)
75% Share Price: £191,250 (rent £146.09pcm)
Minimum 5% Mortgage Deposit (40% share): £5,100
Approximate Service Charges: £32.37 pcm*
Shared Ownership Lease: 125 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.
LOCAL AREA CONNECTION
Applications can only be received from someone with connection to the local area, via work, family or currently living in the borough in accommodation. Proof of a local area connection will be required.
*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.
