Shared Ownership

This brand new home is available to buy from as little as £145,000 with a 50% share!

Quarter Jack Park is a brand new development, close to local schools, shops and family friendly pubs & restaurants. With excellent road links to Bournemouth, Poole, and Southampton, and the New Forest National Park just a 20 minute drive away, Quarter Jack Park is a beautiful place to call home. For those looking to travel further afield, both Bournemouth Airport and Poole train station are approximately 7 miles from Quarter Jack Park.

This ground floor maisonette features an open plan lounge/kitchen/diner, two bedrooms, bathroom and allocated parking.

PRICING & AFFORDABILITY

Approximate Size 620 sq ft

Full Market Value: £290,000

50% Share Price: £145,000 (rent £332.29pcm)
60% Share Price: £174,000 (rent £265.83pcm)
75% Share Price: £217,500 (rent £166.15pcm)

Minimum 5% Mortgage Deposit (50% share): £7,250
Approximate Service Charges: £62.91 pcm*
Shared Ownership Lease: 125 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 Quarter Jack Park you can buy a minimum 25% 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.

LOCAL AREA CONNECTION REQUIREMENT

Has been resident in the Council area for at least 2 (two) years continuous at the time of application.
OR
Close Family connection (5years)
OR
b. Employment Qualification
Has been employed for a minimum of 12 (twelve) months and is currently in employment

GENERAL

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.

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.

SOWN Shared Ownership are part of the Leaders Romans Group and are selling the homes on behalf of Sage Homes. Sage Homes is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Homes visit www.sagehomes.co.uk.