A wonderful opportunity to purchase a 40% share of this superb shared ownership property (full value of £265,000). The property features three generous bedrooms, stylish living room with wood panelling and a fantastic kitchen-diner. Externally the property enjoys off street parking and a lovely sized rear garden.
On the ground floor you find a welcoming hallway with space under the stairs for storage and doors to the cloakroom, kitchen-diner and living room. The fitted kitchen includes a range of units with rose gold furnishings and there is plenty of space for a table and chairs. Spanning the rear of the property, the living room has newly fitted carpet and stylish wood panelling as well as a door to the garden. Heading upstairs, the landing provides access to three generously proportioned bedrooms, one with built in wardrobes and a contemporary bathroom.
The garden is a wonderful size and is mostly laid to lawn with a paved patio area. There is a wooden garden shed and a gate providing side access from the parking area. Here you have tandem parking for two cars.
Shared ownership is an ideal opportunity to secure a property that may otherwise be unattainable. Based on owning a 40% share, the monthly rent payable is £403.87. In addition to this, there is a monthly service charge of £23.52 which includes buildings insurance. Both the rent and service charge are reviewed annually.
Any purchase of this property will be subject to qualification by Green Square Accord. In order to qualify for the purchase, a buyer must be able to afford the relevant costs of owning the property and have a household income of less than £80,000 per year. A buyer must not own another property on completion of the purchase and the property being purchased must be bought as their residential home.
Whilst the advertised price is for a 40% share of the property, a buyer would have the option of buying a larger share (subject to qualification). In addition to this, a buyer can purchase additional shares at a later stage although this can only be done on 3 separate occasions up to a value of 100%.
We have been advised that the property is currently leasehold with a 125 year lease from 2018. Should a buyer decide to buy the remaining share of the property, we have been advised that in doing so they would also acquire the freehold.
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