What is Shared Ownership?
|Minimum share price||£220,000|
|Full market price||£440,000|
|Monthly service charge||£119|
Shared Ownership is a type of affordable home ownership when a purchaser takes out a mortgage on a share of a property and pays rent to a landlord on the remaining share.
For example, someone might buy a 50 per cent share in a property and pay rent to the landlord on the remaining 50 per cent. Purchasers then have the opportunity to ‘staircase’ up their share of the property, gradually increasing the proportion of their home that they own outright and therefore paying less rent on the remaining portion, until they own 100 per cent of their home.
Entrance: Hallway with storage cupboard and entry phone system leading to…
Living Room: (4.7m x 3.5m) Spacious lounge beige carpet.
Kitchen: (3.4m x 2.2m) White base and wall units with grey worktop and tiled splashback. Integrated oven, hob and extractor fan. Integrated fridge freezer. Tiled flooring.
Bedroom: (3.95m x 3.00m) Fitted mirrored wardrobe. Beige carpet.
Bathroom: White suite comprising panelled bath with shower over, WC and hand washbasin. Full height tiling around the bath. Towel rail. Tiled flooring.
Outside: Communal garden & Communal parking