House For Sale £172,500
Meadow Acre Road, Gittisham, Honiton, EX14

SHARED OWNERSHIP (Advertised price represents 50% share. Full market value £345,000). A great chance to buy a spacious, shared-ownership family home. This attractive, recently-constructed property provides more than twelve hundred square foot of accommodation arranged over three levels. The ground floor consists of a good-sized kitchen, an under-stairs cloakroom and a reception room which opens onto a predominantly south-facing garden. The top floor is devoted to a full-length main bedroom with en-suite shower room with two further double bedrooms and a stylish family bathroom at first floor level. Well insulated walls, roof and floor, high performance glazing and a modern gas central heating system make for a very good energy-efficiency rating. The house comes with a garage plus space for an additional car in front. Exeter city centre is approximately a half-hour drive away, picturesque beaches along the south coast can be reached in around twenty minutes (Google Maps). Honiton town centre and railway station are both within reasonable walking distance or a brief cycle ride.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM []

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Heylo. Heylo Housing requires that all applicants must have permanent rights to reside in the UK.
Tenure: Leasehold (125 years from 2019).
Minimum Share: 50% (£172,500).
Shared Ownership Rent: £471.50 per month (subject to annual review).
Service Charge: £61.46 per month (includes an estimate for estate contribution that is not yet charged. Subject to annual review).
Guideline Minimum Income: Dual - £48,600 Single - £55,700 (based on minimum share and 10% deposit).
Council Tax: Band D, East Devon District Council. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone.

WHAT IS SHARED OWNERSHIP ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and Homes England outside of London.

IS SHARED OWNERSHIP FOR YOU ?

The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.