Share percentage %, full price £280,000, £1,400 Min Deposit.
Monthly Cost: £456
Rent £428,
Service charge £28,
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
Shared Ownership uses the following criteria to help people to get onto the property ladder:
- Maximum annual household income of £80,000.
- Unable to purchase a home suitable for your needs.
- You cannot retain another property anywhere
Summary
Modern and spacious 3 bedroom mid terrace house
Description
Three bed mid terrace home consisting of a spacious well appointed kitchen/dining area with French doors allowing in plenty of light and easy access to the rear garden. Upstairs there are three bedrooms and a modern bathroom suite fitted.
Plot 25 (Three bed Mid Terrace)
£112,000 for 40% share- Available during January 2025
Monthly rent on remaining share based on 40% share: £385.00
Monthly service charge is £28.39
Other shares from 10% - 75% can be purchased subject to an affordability assessment.
**As the properties are not yet built we are moving forward with off plan sales**
**Demand is expected to be high Applications are treated as first come, first served.**
Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. It allows you to buy a share in a property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Over time you can purchase more shares in your property - this is known as 'staircasing'. This can be done at any time after initial purchase and it will reduce the amount of rent you pay as the share of the home that you do not own will have got smaller.
Council Tax TBC - due to these properties being new builds and not being previously occupied the council tax and banding has not yet been set.
Service Charge - A service charge will be charged against the property and is paid monthly with your rent payment. The service charge is reviewed on an annual basis This will include Buildings insurance, management and any communal/estate charges that may be covered (if applicable). The service charge displayed is estimated based on the initial assessment of the scheme, please contact the sales consultant for details.
Next Steps:
For further information, please download our brochure below.
Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.
Once you have passed the affordability assessment, we will pass your details to our Sales Consultant who will be able to take you through the reservation process.
We will offer shares between *25-75% of the property value depending on the outcome of the affordability assessment. The higher the share you purchase, the lower your rent will be. You will need to be able to obtain a mortgage for the share you want to purchase unless you have sufficient funds to enable you to purchase a share outright. Deposit amounts will be lower than purchasing a property on the open market
Key Features
- Anticipated build date is during January 2025
- Modern fitted kitchen with oven, hob and extractor fan
- Modern white bathroom suite with shower over bath
- Shower screen
- Vinyl flooring in kitchen and bathroom and wc
- Carpet fitted throughout other areas
- Allocated parking
- Turfed rear garden
Particulars
Tenure: Leasehold
Lease Length: 990 years
Council Tax Band: New build - Council tax band to be determined
Property Downloads
Key Information Document Floor Plan BrochureMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: Yes
Outside Space/Garden: n/a - Private Garden
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- Rent: This is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes).
- Service Charge: Covers maintenance and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 10%, full price £280,000, £1,400 Min Deposit. Calculated using a representative rate of 5.03%
Walsall Housing Group (whg)
