Shared ownership is a way of purchasing a share of a property, with a rent being paid on the outstanding amount. The remaining 75% of this property is held by EMH Group.
Our figure is based on the Full Market Value of the Property being £180,000. A rent will be chargeable on the share being retained by EMH Group.
We believe the monthly rent to be £327.83 per month. These charges will be in addition to any mortgage costs on the purchased share.
Once you have lived in the property for 12 months you may be able to purchase additional shares if you want to; this is called ‘staircasing’. In most cases you can staircase up to 100% of the property and eventually own the property outright; making shared ownership a ladder of opportunity to owning your own home!
There may be a possibility of buying the property on a different share basis, although this would need consent from EMH Group.
EMH Group may need to agree a sale on this property, and may have qualifying criteria. This can be discussed with you if you are considering making an offer. Such criteria will usually not allow a person to buy a shared equity home as a second property for example.
You should also ensure that you are able to get a mortgage for the desired amount. Wilkins Vardy have an independent Financial Adviser who can help. Just ask for details.
Gas central heating (Worcester Greenstar 4000 Boiler)
uPVC sealed unit double glazed windows and doors
Gross internal floor area - 72.4 sq.m./779 sq.ft.
Council Tax Band - B
Tenure - Leasehold
Secondary School Catchment Area - Tupton Hall School
A front entrance door opens into an ...
With staircase rising to the First Floor accommodation.
Fitted with a white 2-piece suite comprising of a wash hand basin and a low flush WC.
A good sized front facing reception room having a built-in under stair store cupboard.
Spanning the full width of the property, being part tiled and fitted with a range of beech effect wall, drawer and base units with complementary work surfaces over.
Inset single drainer stainless steel sink with mixer tap.
Space and plumbing is provided for a washing machine and a dishwasher, and there is also space for a fridge/freezer and a freestanding cooker.
Vinyl flooring.
uPVC double glazed French doors overlook and open onto the rear of the property.
A good sized front facing double bedroom.
A rear facing small double bedroom.
A good sized single bedroom having a built-in storage cupboard.
Being part tiled and fitted with a white 3-piece suite comprising of a panelled bath with glass shower screen and mixer shower over, pedestal wash hand basin and a low flush WC.
Vinyl flooring.
To the front of the property there is a lawned garden and a paved path leading up to the front entrance door.
A paved path to the side of the property leads to a gate which opens to the enclosed rear garden which comprises of a paved patio and a lawn. There is also a driveway to the rear of the property, which is accessed off Middle Lane and provides car standing space for two cars.
