1 bed Flat For Sale £33,750
Shared Ownership
This modern home is available to buy from as little as £54,000 with a 40% share!
Situated in a popular modern development and within easy reach of local amenities, this first floor apartment is available immediately and with no onward chain. Benefitting from a superb 21ft dual aspect, open plan lounge/kitchen/diner, the property also features a double bedroom, bathroom along with allocated parking.
The historic market town of Faringdon, which dates back to the 12th Century, is located almost equidistant of Swindon and Oxford on the A420 which leads to the A34, M40 and M4. Mainline railway services to London run from Swindon, Oxford City, Oxford Parkway and Didcot Parkway. The town is served by the Stagecoach S6 bus which runs a regular ½ hourly service through much of the day to Swindon and Oxford and the villages en route.
The town itself has a thriving community and amenities such as the leisure centre, library, independent traders, doctors’ surgery, two primary schools, and a secondary school. A recent retail development includes a Waitrose and an Aldi supermarket, with further retail planned, in addition to the existing Tesco store.
Pricing & affordability
Approximate Size 45 sq m
Full Market Value: £135,000
40% Share Price: £54,000 (rent £185.63pcm)
50% Share Price: £67,500 (rent £154.69pcm)
75% Share Price: £101,250 (rent £77.34pcm)
Minimum 5% Mortgage Deposit (40% share): £2,700
Approximate Service Charges: £42.36 pcm*
Lease term: The apartment will be sold with a renewed 125 year lease
Eligibility
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright.
At Palmer Road you can buy a minimum 40% 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.
To be eligible for this shared ownership home you would need to meet the following criteria:
• Your 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 have been digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images. Furniture is not included in the purchase price and the property is ‘sold as seen’.
This modern home is available to buy from as little as £54,000 with a 40% share!
Situated in a popular modern development and within easy reach of local amenities, this first floor apartment is available immediately and with no onward chain. Benefitting from a superb 21ft dual aspect, open plan lounge/kitchen/diner, the property also features a double bedroom, bathroom along with allocated parking.
The historic market town of Faringdon, which dates back to the 12th Century, is located almost equidistant of Swindon and Oxford on the A420 which leads to the A34, M40 and M4. Mainline railway services to London run from Swindon, Oxford City, Oxford Parkway and Didcot Parkway. The town is served by the Stagecoach S6 bus which runs a regular ½ hourly service through much of the day to Swindon and Oxford and the villages en route.
The town itself has a thriving community and amenities such as the leisure centre, library, independent traders, doctors’ surgery, two primary schools, and a secondary school. A recent retail development includes a Waitrose and an Aldi supermarket, with further retail planned, in addition to the existing Tesco store.
Pricing & affordability
Approximate Size 45 sq m
Full Market Value: £135,000
40% Share Price: £54,000 (rent £185.63pcm)
50% Share Price: £67,500 (rent £154.69pcm)
75% Share Price: £101,250 (rent £77.34pcm)
Minimum 5% Mortgage Deposit (40% share): £2,700
Approximate Service Charges: £42.36 pcm*
Lease term: The apartment will be sold with a renewed 125 year lease
Eligibility
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright.
At Palmer Road you can buy a minimum 40% 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.
To be eligible for this shared ownership home you would need to meet the following criteria:
• Your 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 have been digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images. Furniture is not included in the purchase price and the property is ‘sold as seen’.
