Shared Ownership
This superb modern home is available to buy from as little as £62,500 with a 50% share!
A well-presented first-floor studio apartment offering bright and versatile living, ideal for first-time buyers.
The thoughtfully designed accommodation features a spacious open-plan living and sleeping area with direct access to a private balcony, creating a light and airy feel throughout.
The property also benefits from a separate fitted kitchen, a bathroom, and useful built-in storage in the entrance hall. Externally, there is one allocated parking space along with visitor parking, adding further convenience for residents and guests.
Situated in a popular Milton Keynes location, the apartment is well placed for local amenities, transport links, and nearby green spaces.
PRICING & AFFORDABILITY
Full Market Value: £125,000
50% Share Price: £62,500 (rent £122.85 pcm)
Minimum 5% Mortgage Deposit: (50% share): £3,125
Approximate Service Charges: £68.81 pcm*
Lease: Will be extended to 153 years on completion of the sale
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.
