Half Penny Meadows, 3 bed homes
Located in the heart of the Ribble Valley, with a stunning view of Pendle Hill, Half Penny Meadows is a beautiful development offering a selection of 3 bedroom homes.The homes include a large living room opening out onto the rear garden through French doors and spacious dining kitchen with fabulous fitted units.The development is located close to the superb amenities and local schools that Clitheroe offers – and with excellent commuter links.
To reserve the 2 Bedroom Bungalows at this development, the Purchasers of these homes have to be 55 or over.
Prices on this development start from 25% equity share.You will need a minimum 5% deposit (of the share value) for mortgage purposes, plus monies to pay for solicitor fees, moving costs & furnishings.
Local area information
Min share price from: £48,750 for a 25% share
Full price from: £195,000
Minimum deposit from: £2,312
Monthly rent from: £335
There are 2 available ranging from £48,750 for a 25% share to £90,000 for a 40% share.
It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.
An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.
Leasehold, which is essentially the contract for the share you've bought.
It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.
Your solicitor can help you with this.