Shared Ownership
This superb modern home is available to buy from as little as £155,000 with a 50% share!
A well-proportioned three-bedroom home offering spacious and practical accommodation across two floors. The ground floor comprises a welcoming entrance hall, a generous lounge/dining room providing plenty of space for both relaxing and entertaining, a separate fitted kitchen and a convenient downstairs WC. The property also benefits from a double driveway, providing excellent off-road parking.
Upstairs are three well-sized bedrooms, together with a family bathroom. The principal bedroom offers particularly good proportions, while the additional bedrooms provide useful flexibility for family living, guests or home working. The layout provides a good balance of living and bedroom space, making this a practical home for a range of purchasers.
The property is situated on the popular Hayne Farm development in Gittisham, on the edge of Honiton. Honiton offers a range of everyday amenities including shops, schools, restaurants and leisure facilities, while Honiton railway station provides mainline connections. The development also benefits from convenient access to the A30, providing links towards Exeter and the wider region
PRICING & AFFORDABILITY
Full Market Value: £310,000
50% Share Price: £155,000 (rent £404.05pcm)
Minimum 5% Mortgage Deposit (50% share): £7,750
Approximate Service Charges: £41.72pcm*
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 lived 3 out of 5 years, have worked for the last 12 months in, or have formally lived in the parish of Gittisham for least 5 continuous years to be able to buy this property
• 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.
