Shared Ownership

This superb modern home is available to buy from as little as £164,500 with a 70% share!

This two bedroom second floor apartment provides bright and airy accommodation comprising an open plan kitchen/living space, two bedrooms, master en-suite shower room and a further family bathroom. Further benefits include allocated off street parking and a lease over 100 years.

The property is located just outside Stevenage’s town centre and just a few minutes away from the railway station. The train travels to Kings Cross, in Central London, in 27 minutes from there.
The close A1 motorway is just a few minutes’ away drive for travel north or south from the town.
Luton and its incredibly convenient airport is also just 30 minutes away from the flat by car.
All local amenities are nearby, including several supermarket chains, restaurants, pubs and schools, many of which are within walking distance.

PRICING & AFFORDABILITY

Full Market Value: £235,000

70% Share Price: £164,500 (rent £204.91 pcm)
Minimum 5% Mortgage Deposit (50% share): £8,225
Approximate Service Charges: £209.61 pcm*
Shared Ownership Lease: approx. 111 years
Council Tax Band: C

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.

** This home can also be purchased outright (100% of the value) which is £235,000 and a purchaser would not need to meet the eligibility criteria listed