Shared Ownership
This superb modern home is available to buy from as little as £160,000 with a 50% share!
well-proportioned two-bedroom house offering approximately 764 sq ft of accommodation, situated in the village of East Challow, just outside Wantage. The ground floor comprises a generous reception room alongside a separate kitchen/breakfast room, providing good space for everyday dining, with the added convenience of a downstairs WC.
Upstairs, the property offers two generously sized double bedrooms together with a family bathroom. The practical layout provides a good balance of living and bedroom accommodation, while externally the property further benefits from a double driveway to the rear, providing valuable off-road parking.
East Challow is conveniently positioned approximately one mile west of Wantage, with access to local countryside, a village primary school and regular bus services into the town. Wantage itself provides a wider selection of supermarkets, independent shops, cafés, restaurants and leisure facilities.
PRICING & AFFORDABILITY
Full Market Value: £320,000
50% Share Price: £160,000 (rent £369.98pcm)
Minimum 5% Mortgage Deposit (50% share): £8,000
Approximate Service Charges: £52.56pcm*
Lease: 121 years
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:
• You must live, work or have a local connection tothe Vale of White Horse District area
• 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.
