Shared Ownership
This superb modern home is available to buy from as little as £185,000 with a 50% share!
A well-proportioned three-bedroom end-of-terrace home, offering practical accommodation across two floors together with a private rear garden and allocated parking space. The property benefits from two bathrooms, providing additional convenience alongside the main living accommodation.
The ground floor offers comfortable living space with a fitted kitchen and reception area, while upstairs are three bedrooms and the main family bathroom. The end-of-terrace position, private garden and allocated parking all add to the appeal and practicality of the property.
Situated within the popular Charlton Hayes/Patchway area, the property is well placed for everyday amenities and transport connections. Patchway railway station is around 1km away, with further rail services available from Bristol Parkway, while the M4/M5, A38 and Cribbs Causeway are all readily accessible. Local amenities include supermarkets, schools and a good selection of shopping and leisure facilities nearby.
PRICING & AFFORDABILITY
Full Market Value: £370,000
50% Share Price: £185,000 (rent £347.74pcm)
Minimum 5% Mortgage Deposit (50% share): £9,250
Approximate Service Charges: £29.85pcm*
Lease: 118 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/£90,000.
• 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 £370,000 and a purchaser would not need to meet the eligibility criteria listed above.
