Shared Ownership
This superb modern home is available to buy from as little as £128,000 with a 40% share!
This two bedroom semi detached home is located in a quiet cul de sac built by Charles Church Homes in 2014. The well presented accommodation comprises a kitchen/dining room, living room and WC on the ground floor and two double bedrooms and a bathroom on the first floor. Outside, there is a tiered garden and there are two allocated parking spaces beyond.
Horndean is a semi-rural village located in Hampshire, just north of Portsmouth. There are a variety of every day amenities and well regarded local schools. Nearby Waterlooville and Petersfield provide a larger range of amenities.
Horndean is situated near the A3(M), with easy access to Portsmouth, Southampton, and London.
PRICING & AFFORDABILITY
Full Market Value: £320,000
40% Share Price: £128,000 (rent £415.85 pcm)
Minimum 5% Mortgage Deposit (40% share): £6,400
Approximate Service Charges: £31.10 pcm*
Lease: 114
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 £320,000 and a purchaser would not need to meet the eligibility criteria listed above.
