2 bedroom End of terrace house For Sale

Northwood present this 50% shared ownership house with large garden and parking.

The shared ownership scheme with Orbit enables this beautiful property to be available to anyone looking for shared ownership options.

Located in a fabulous village the house is modern with double glazing and gas central heating and two parking spaces.

The ground floor has an entrance hallway, spacious living room and large separate kitchen.

Upstairs are two double bedrooms and bathroom having bath with shower over.

The lease has been extended and runs until 12/04/2188

As this is shared ownership there is rent payable on the other 50% as below along with the details of service charges.

The rent is now £221.13

Service charge  £21.92

Insurance.          £15.19

Management fee £0

A great opportunity to secure an attractive house with lovely large garden.

As part of the application process we will have to ensure any buyers qualify for shared ownership with Orbit with the following criteria:• The household earns £80,000 a year or less (or £90,000 a year or less in London)• They are first-time buyers (or used to own a home but cannot afford to buy one now. Existing shared owners are required to have disposed of their existing shared ownership home at the point of purchase.)

• They are aware that shared ownership properties cannot be sub-let and must be the leaseholder’s primary residence.

The property will already have been valued by a qualified (RICS) valuer. This is part of Homes England regulations for Shared Ownership and complies with the legal terms of the Lease. You will not be able to accept an offer above the maximum value set out by the surveyor. It may help you to ask to see the offer letter sent to your vendor by the Association. We will not consent to sales above the offer value and solicitors will be unable to proceed.

The purchaser will be required to complete an Orbit application form and we will also require satisfactory evidence from their Independent Financial Advisor that they have seen and approved their proof of ID, payslips, savings and Mortgage Certificate. When an offer is accepted, please contact us so this can be actioned. The buyer will also need to provide a copy of their mortgage offer (if applicable), which, under the terms of the lease must be approved by the Association. If you provide financial advice to the purchaser you may also wish to see a copy of our mortgage approval criteria, which is available on request.

As part of our approval process, we will have to be satisfied that the purchaser complies to the Homes England affordability assessment. Based on the share price we estimate a minimum household income of £33,362.00 is required to afford to purchase the share and meet the rent obligations of this particular home. The purchaser may require a higher income if they have other monthly commitments such as a loan or a lower income if they are able to put down a lump sum to help fund the purchase.

It may be possible for someone to purchase 100% of the property but an additional staircasing process will have to be completed simultaneously by your client and this may incur additional legal costs. EPC rating: D. Council tax band: B, Tenure: Leasehold, Annual ground rent: £211, Annual service charge: £3054, Service charge description: Rent £221
Service Charge £21
Insurance £15
Management Charge £0

, Length of lease (remaining): 162 years 0 months,