1 bedroom apartment

In my opinion, shared ownership homes are an excellent way to get onto the property ladder. -- Greg Wood, Director

#TheGardenOfEngland

A shared ownership first floor apartment with 65% share of the full market value available for purchase. Internally the apartment is well presented and comprises one double bedroom, a bathroom and an open plan kitchen/living room with a Juliet balcony. Outside there is an allocated parking bay behind the building. There is no onward chain.

Position
Repton Park is a relatively modern development of homes just outside the town centre of Ashford. It is a handy location for those commuting on the M20 motorway and is within walkable distance to the Ashford Train Station, where there are high speed trains to London in 37minutes. In the immediate area, there are several schools, parks and a busy Waitrose superstore. The neighbouring development of Godinton offers several convenience stores.

Why Shared Ownership
• The cost of your mortgage will be significantly less than buying a property outright - making the dream of buying your own home an achievable reality.
• Even with a small deposit, you could still benefit from growing equity as you pay your mortgage, if your home increases in value. An increase in your home’s value could benefit you when you come to sell your share.
• When you can afford to, you can buy more shares of your home all the way up to 100% - this is known as staircasing. There are some associated costs with staircasing.
• It is a common misconception that with shared ownership properties the same rules apply as renting, in that you can’t decorate or change the way your home looks. In fact, quite the opposite, the only time you will need to seek permission is if you want to extend your property.

Eligibility
You are eligible to purchase a part rent; part buy property in England or Wales if:
• Your household income does not exceed £80,000 per annum for homes outside of London (£90,000 in London)
• You have a deposit (at least 5% of the share value)
• You are a first-time buyer or used to own a home, but cannot afford to buy outright now
• The shared ownership property will be your principle and only home
• You have passed a Homes England Affordability calculator, demonstrating you are financially able to purchase the share value and support the monthly costs
• You have registered with a Help to Buy Agent

The Apartment
• The Full Market Value is £140,000
• On offer is a 65% share, equating to £91,000. It is possible to purchase a higher percentage, subject to the Housing Association approval.
• The Monthly Rent payable is £125.74
• The Monthly Service Charge is £125.79

How to Buy
• If you satisfy the eligibility requirements listed, we recommend you first speak with a mortgage advisor prior to viewing.
• If after viewing you would like to proceed, please register for a Help to Buy account. See link here, • Then, notify us at Hobbs Parker and simultaneously register your interest here: • Once your application is made, Town and Country Housing (the Housing Association) will request further information to fully approve your application.

Our Ref: AVS220033