This property is no longer on the market
3 bedroom end of terrace house
Key information
Property description & features
- Tenure: Leasehold
- Shared Ownership
- Price Advertised is for 50% Share
- RICS survey already in place
- Buyers must have a connection to the local area
Shared Ownership
Shared ownership helps you to buy a home if you cannot afford all of the deposit and mortgage payments for a home that meets your needs.You pay for a percentage share, normally between 50% and 80% of the home's full market value (we are advertising 50% value on this property).You enter into a lease agreement with the landlord (Willow Tree Housing), and agree to pay rent to the landlord on the remaining share.You'll be referred to a mortgage adviser. They will assess your income and outgoings. For this particular purchase, the share available is fixed at 50%.
Willow Tree Housing Partnership Limited (WTHP)
Willow Tree Housing Partnership Limited (WTHP) will administer the sale of this property. Upon applying to purchase this property through Orchards Estates, your details will be forwarded to the relevant department with WTHP who will then guide you through the process and send you the relevant paperwork. There are a range of qualifying criteria to be considered when purchasing this property.
Criteria for Shared Ownership
Glovers Close, Stoke Sub Hamdon - Local ConnectionA connection with one of the parishes of Stoke-Sub-Hamdon, Norton-Sub-Hamdon, Montacute, Chiselborough or Martock as follows:* Has resided in one of the specified parishes for not less than two years out of the last five.* Has worked in one of the specified parishes for not less than two years out of the last five* A member of their family has lived or worked in one of the parishes as set out above.Family members are defined as:o Spouseo Parento Grandparento Childo Grandchildo Brother or sistero Aunt or uncleso Nephew or niece
RICS Survey
An Independent RICS Chartered Survey has taken place and confirmed the full value of this property at £270,000. The property price as advertised equates to 50% of the total value and is the minimum mortgage affordability required.
Monthly Charges (current)
The current monthly charges for the rented 50% of the property are:•Rent £256.45•Service charge £ 18.42•Total £274.87There is an annual increase each April which is based on Retail Price Index so is variable. This year Willow Tree Housing chose to cap the increase for shared owners at 6%, matching the social housing rent cap, as RPI was somewhat higher than this.The lease is valid for 99 years from 25/03/1993 so has approx. 68 years remaining.
Viewings and Application
Please contact the agent, Orchards Estates to arrange your viewing. We will also guide you through the initial requirements and send you paperwork prior to introducing you to the Landlord, Willow Tree Housing who will then check your criteria and confirm your application.
Council Tax Band: C
Tenure: Leasehold
Lease Years Remaining: 119
Ground Rent Review Period: 1 year
Ground Rent Increase: 6%
Service Charge: £18.42 per year
Shared Ownership (%): 50%
Shared Ownership (Rent): £256.45 per month
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Property reference 11955349. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Orchards Estates - Somerset.
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Broadband availability and predicted speed: obtained from Ofcom on September 11, 2023
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Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength: obtained from Ofcom on September 11, 2023
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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