House For Sale £65,000
About this home
The Elmslie has a great open-plan kitchen/dining room and a generous living space that will be the real heart of the home. Add to this three bedrooms, a modern bathroom and handy downstairs cloakroom, there is room enough for the whole family.
Shared Ownership
Shared ownership is a government-backed scheme that makes it easier for you to buy an affordable stake in a property.
The share you buy is dependent on your financial and personal circumstances. It can be from a minimum of 25% to a maximum of 75% share of the full market value of the property. You may be able to buy further shares at a later stage and in most instances you will be able to buy up to 100% of the shares in your home and own it outright. However, in some cases there may be restrictions on when you can buy a further share or on the maximum total share you can own.
Do I Qualify?
You qualify for shared ownership if you:
- Have a household income of under £80,000 (less than £90,000 in London)
- Don’t currently own your home and can’t afford to on the open market
- Can afford the minimum deposit
- Pass an affordability check to make sure you can get a mortgage
* The full market value of this home is £260,000 but, with shared ownership, you could purchase an initial 25% share for just £65,000 and pay a monthly rent on the remaining share. If you’re buying with a mortgage you may only need a deposit of 5% of the amount you borrow, meaning your deposit could be as low as £3,250.
