House For Sale £30,000
SHARED OWNERSHIP*10%-75% OWNERSHIP OPTIONS*FULL VALUE £300,000*OPTIONS TO INCREASE OWNERSHIP SHARE WHEN AFFORDABLE*Are you looking for an affordable way to get on the property ladder? Shared ownership could be for you! We are delighted to offer this new build 3 bedroom detached property with integral garage. It lies on the popular Queens Court site in Beverley by Barratt Homes and is built to the Denby style. This highly energy efficient home briefly comprises an entrance hallway leading to an open plan living space which includes a kitchen/diner with integrated oven and hob and double doors which open to the garden. There is a utility room and downstairs WC. At first floor level there are 3 bedrooms, an en-suite shower room to the main bedroom and a well appointed family bathroom. There is a private driveway for off street parking, an integral garage and a nice size rear garden. A great opportunity to acquire a new build home in a superb location. Please note displayed price represents a 10% ownership - further options available. Please note that these details do not show the actual plot available or the site itself which is still under construction but are designed to provide an idea of the style. Please contact our sales team for further details
What is Shared Ownership?
Shared Ownership allows you to buy a share in your new home. This will range from 10%-75% depending on what you can afford. You will then pay a reduced rent on the remaining share. The advantage to you the buyer is that you only need to get a smaller mortgage to buy the property, and you will also need a smaller deposit (your deposit is a percentage of the share that you are buying and not based on the full value of the property). You can buy more shares as and when you can afford them - this is called 'staircasing'. As you buy more shares you will pay less rent. In most cases you can eventually own 100% of the property and at that point you will pay no rent at all. As a homeowner you will be responsible for the maintenance and repairs on your home
Financial Example
Property value - £300,00010% share purchase price - £30,000 (Mortgage & Deposit)Monthly rent on the remaining share - £618.7525% share purchase price - £75,000 (Mortgage & Deposit)Monthly rent on the remaining share - £515.6330% share purchase price - £90,000 (Mortgage & Deposit)Monthly rent on the remaining share - £481.2540% share purchase price - £120,000 (Mortgage & Deposit)Monthly rent on the remaining share - £412.5050% share purchase price - £150,000 (Mortgage & Deposit)Monthly rent on the remaining share - £343.7560% share purchase price - £180,000 (Mortgage & Deposit)Monthly rent on the remaining share - £275.0070% share purchase price - £210,000 (Mortgage & Deposit)Monthly rent on the remaining share - £206.2575% share purchase price - £225,000 (Mortgage & Deposit)Monthly rent on the remaining share - £171.88In addition to the monthly rent above the following is payable:Service Charge: £19.00Estate Charge: £0.00Buildings Insurance: £21.00Management Fee: £15.00Reserve Fund Payment: £0.00Total monthly payment (excluding rent): £55.00Term and conditions applyReservation Fee: £300.00The reservation fee secures the home for 56 days. If you buy the home, the fee will be taken off the final amount you pay on completion. If you do not buy the home, the fee is not refundable
Why Shared Ownership?
1. An affordable way to get on the housing ladder2. Provides security of home ownership3. Benefit from any increase in property prices4. Flexibility to sell and move at any time5. Ability to increase the level of ownership, subject to terms and conditions
Eligibility
If your household income is below £80,000 per annum, you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs and you can afford to sustain mortgage and rent payments in the long term then Shared Ownership could be your route onto the property ladder. One of the following must also be true: - you're a first time buyer- you used to own your own home but cannot afford to buy one now- you're forming a new household (e.g. after a relationship breakdown)- you're an existing shared owner and you want to move on- you own a home and want to move but you cannot afford to buy a new home that meets your needs.
Lease Details
Tenure - LeaseholdLease Type - Shared Ownership House LeaseLease Term - 990 yearsMaximum share you can own - 100%Transfer of freehold - At 100% ownership, the freehold will transfer to you
Initial Repair Period
Up to £500 a year for the first 10 years to help with essential repairs
Further Details
For further details or to register your interest please contact our sales team on[use Contact Agent Button]
Agents Notes
Please note:In most cases we use wide angle lens photography to ensure we capture as much of the room and its features. This can distort the image slightly and should be considered alongside the other details within the particulars. Oscars give notice that these particulars whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Purchasers and potential purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise to assess their accuracy. No person in the employment of Oscars has the authority to make or give any representation or warranty in relation to the propertyFree Valuation:If you are considering selling your property, we would be delighted to provide a free valuation and marketing advice. Please contact the office on[use Contact Agent Button] to arrange an appointment.
Fixtures & Fittings
Fixtures and Fittings:Fixtures and fittings within the property may be available by separate negotiation unless otherwise stated. Any items of particular importance to you can be verified with our team.
Tenure: Leasehold
Lease Years Remaining: 990
Ground Rent: £0.00 per year
Service Charge: £660.00 per year
Shared Ownership (%): 10%
Shared Ownership (Rent): £618.75 per month
What is Shared Ownership?
Shared Ownership allows you to buy a share in your new home. This will range from 10%-75% depending on what you can afford. You will then pay a reduced rent on the remaining share. The advantage to you the buyer is that you only need to get a smaller mortgage to buy the property, and you will also need a smaller deposit (your deposit is a percentage of the share that you are buying and not based on the full value of the property). You can buy more shares as and when you can afford them - this is called 'staircasing'. As you buy more shares you will pay less rent. In most cases you can eventually own 100% of the property and at that point you will pay no rent at all. As a homeowner you will be responsible for the maintenance and repairs on your home
Financial Example
Property value - £300,00010% share purchase price - £30,000 (Mortgage & Deposit)Monthly rent on the remaining share - £618.7525% share purchase price - £75,000 (Mortgage & Deposit)Monthly rent on the remaining share - £515.6330% share purchase price - £90,000 (Mortgage & Deposit)Monthly rent on the remaining share - £481.2540% share purchase price - £120,000 (Mortgage & Deposit)Monthly rent on the remaining share - £412.5050% share purchase price - £150,000 (Mortgage & Deposit)Monthly rent on the remaining share - £343.7560% share purchase price - £180,000 (Mortgage & Deposit)Monthly rent on the remaining share - £275.0070% share purchase price - £210,000 (Mortgage & Deposit)Monthly rent on the remaining share - £206.2575% share purchase price - £225,000 (Mortgage & Deposit)Monthly rent on the remaining share - £171.88In addition to the monthly rent above the following is payable:Service Charge: £19.00Estate Charge: £0.00Buildings Insurance: £21.00Management Fee: £15.00Reserve Fund Payment: £0.00Total monthly payment (excluding rent): £55.00Term and conditions applyReservation Fee: £300.00The reservation fee secures the home for 56 days. If you buy the home, the fee will be taken off the final amount you pay on completion. If you do not buy the home, the fee is not refundable
Why Shared Ownership?
1. An affordable way to get on the housing ladder2. Provides security of home ownership3. Benefit from any increase in property prices4. Flexibility to sell and move at any time5. Ability to increase the level of ownership, subject to terms and conditions
Eligibility
If your household income is below £80,000 per annum, you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs and you can afford to sustain mortgage and rent payments in the long term then Shared Ownership could be your route onto the property ladder. One of the following must also be true: - you're a first time buyer- you used to own your own home but cannot afford to buy one now- you're forming a new household (e.g. after a relationship breakdown)- you're an existing shared owner and you want to move on- you own a home and want to move but you cannot afford to buy a new home that meets your needs.
Lease Details
Tenure - LeaseholdLease Type - Shared Ownership House LeaseLease Term - 990 yearsMaximum share you can own - 100%Transfer of freehold - At 100% ownership, the freehold will transfer to you
Initial Repair Period
Up to £500 a year for the first 10 years to help with essential repairs
Further Details
For further details or to register your interest please contact our sales team on[use Contact Agent Button]
Agents Notes
Please note:In most cases we use wide angle lens photography to ensure we capture as much of the room and its features. This can distort the image slightly and should be considered alongside the other details within the particulars. Oscars give notice that these particulars whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Purchasers and potential purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise to assess their accuracy. No person in the employment of Oscars has the authority to make or give any representation or warranty in relation to the propertyFree Valuation:If you are considering selling your property, we would be delighted to provide a free valuation and marketing advice. Please contact the office on[use Contact Agent Button] to arrange an appointment.
Fixtures & Fittings
Fixtures and Fittings:Fixtures and fittings within the property may be available by separate negotiation unless otherwise stated. Any items of particular importance to you can be verified with our team.
Tenure: Leasehold
Lease Years Remaining: 990
Ground Rent: £0.00 per year
Service Charge: £660.00 per year
Shared Ownership (%): 10%
Shared Ownership (Rent): £618.75 per month
