Report this ad

This home has been tastefully decorated and it is noticeable throughout that the current owner has kept the property in good condition and is ready to move straight into. This property is located within catchment for popular local schools and is within walking distance to Littleport train station, ideal for commuters. The layout of this home is both practical and proportionate with the benefit of parking and a generous rear garden.
Shared Ownership is an affordable, flexible option of purchasing a home and a great way to get a foot on the property ladder if you’re currently unable to buy a property outright on the open market. Shared Ownership is a Government funded Low Cost Home Ownership
(lcho) product. It allows you to purchase a share in a property that’s affordable to you, whilst paying a subsidised rent to Longhurst Group for the unsold equity that remains in our ownership. When the time’s right for you, you can Staircase and buy additional shares in your home and if your lease allows, you can purchase the Freehold interest to own your home outright.
Shared ownership criteria:
Shared Ownership is normally aimed at first time buyers who are unable to buy a suitable home on the open market due to affordability. However, non-first time buyers may also be considered if they meet the following criteria:
• A previous homeowner who’s looking to get back onto the property ladder following a relationship breakdown and is struggling to afford a property on the open market.
• A previous homeowner who’s had to sell their home for financial reasons and cannot afford to buy a property outright on the open market.
• People who are relocating to a new area due to work or personal circumstances and cannot afford to buy a property on the open market.
• Existing shared owners whose family has grown, or circumstances have changed, but cannot afford a home that meets their needs on the open market.
• All applicants for Shared Ownership must be in a position to pass affordability and financial assessments and be in a position to secure a mortgage for the share. This includes providing evidence that you have enough savings to cover the mortgage deposit (normally five to 10 percent) and your moving and legal costs.
• Cash purchasers, buying the share from equity from the sale of a marital home will also need to provide financial assessment evidence that the property is affordable in the longer term.
Buyers must apply for the property and once accepted will be required to be a £250 non-refundable reservation fee is payable. This is credited to the rent account upon completion of the sale.
You’re unable to buy a Shared Ownership home if you already own a home in the UK or aboard or if you have a joint household income of over £80,000 per annum.
Shared Ownership homes can only be purchased as principal homes and cannot be bought for letting or subletting purposes or for financial gain.
Contact us to arrange your viewing and for anymore information regarding an application

- • Lease granted on 22/05/2020 for a term of 99 Years
- Remaining rent £251.13 (includes building insurance)
- Opportunity to staircase
- Semi-detached
- Two generous bedrooms
- Spacious rear garden