Shared Ownership in Spalding, Lincolnshire, 3 bed Semi-Detached House

  • £270,000

    Equity share: 25% / £67,500

Weston-Plot 35
For Sale Shared Ownership

Shared Ownership in Spalding, Lincolnshire, 3 bed Semi-Detached House

Weston-Plot 35
  • £270,000

    Equity share: 25% / £67,500

Property Overview

  • Semi-Detached House
  • Property Type
  • 3
  • Bedrooms
  • 2
  • Bathrooms

Property Description

We are pleased to bring to the market this Studio Semi-Detached House Shared Ownership. It is situated in , and is available now

Shared Ownership

This brand new home is available to buy from as little as £67,500 with a 25% share!

Set between the larger towns of Spalding and Holbeach, in the charming rural village of Weston is this collection of brand new three bedroom homes for sale.

The great location means you’ll be able to enjoy the countryside of Lincolnshire whilst still being close to handy shops, schools and essential services. Weston is home to a few village amenities including a post office and village store, while Spalding and Holbeach both offer a good range of high street and independent stores, supermarkets, schools for all ages and public transport links, just a few minutes’ drive away.

There homes are also conveniently close to key routes connecting you to larger centres such as Peterborough and King’s Lynn, making this a fantastic choice whether you’re planning on commuting or staying closer to home.

An attractive three-storey home, the ‘Saunton’ has an open-plan kitchen/dining room, a living room and three bedrooms. The top floor bedroom has an en suite. The enclosed porch, downstairs WC and three storage cupboards mean it’s practical as well as stylish.

PRICING & AFFORDABILITY

Approximate Size 1034 sq ft

Full Market Value: £270,000

25% Share Price: £67,500 (rent £754.31pcm)
50% Share Price: £135,000 (rent £502.88pcm)
75% Share Price: £202,500 (rent £251.44pcm)

Minimum 2.5% Mortgage Deposit of Full Market Value: £6,750.00
Approximate Service Charges: £58.33 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC

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.

At Weston you can buy a minimum 50% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for shared ownership you would need to meet the following criteria:

• 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.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

Property Address

Open on Google Maps
  • Address Weston-Plot 35
  • City Spalding
  • County Lincolnshire
  • Postal Code PE12 6SQ

Details

Updated on February 20, 2024 at 12:26 pm
  • Property ID: MS-122742
  • Rental Amount Per Month: £754/Month
  • Bedrooms: 3
  • Bathrooms: 2
  • Property Type: Semi-Detached House
  • Property Status: For Sale, Shared Ownership
  • Estimated Monthly Service Charge (£): 58.33
  • Value Of The Equity Share: 25% / £67,500
  • Overall Property Value: £270,000
  • Tenure: Leasehold
  • Length of Lease: 990

Contact SOWN about: Shared Ownership in Spalding, Lincolnshire, 3 bed Semi-Detached House

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