Shared Ownership
This superb modern home is available to buy from as little as £120,000 with a 40% share!
A well-proportioned three-bedroom home offering approximately 982 sq ft of accommodation arranged over two floors. The ground floor comprises a spacious reception room, separate fitted kitchen, entrance hall and convenient downstairs WC. The generous reception room provides plenty of space for both relaxing and dining, while the kitchen offers a practical layout for everyday living. The property also benefits from 2 parking spaces
Upstairs are three well-sized bedrooms together with a family bathroom. The principal bedroom is particularly spacious, while the further two bedrooms offer useful flexibility for children, guests or home working. The overall layout provides a good balance of living and bedroom accommodation, making this a practical family home.
Situated within the popular Great Oldbury development, the property is well placed for the amenities and facilities of Stonehouse and the surrounding area. Stonehouse railway station is approximately 2.4km away, providing rail connections, while the area also offers convenient access to the A38 and M5, making it well positioned for commuting.
PRICING & AFFORDABILITY
Full Market Value: £300,000
40% Share Price: £120,000 (rent £513.63pcm)
Minimum 5% Mortgage Deposit (40% share): £6,000
Approximate Service Charges: £50.49pcm*
Lease: 119 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:
• 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.
