3 bedroom semi-detached house

SHARED OWNERSHIP (Advertised price represents 60% share. Full market value £370,000). This semi-detached house is part of a recently-constructed development. The property has a cloakroom just off the entrance hall with the remainder of the ground floor devoted to a full-length (twenty-seven-foot) kitchen/reception room. Features include pale grey units, integrated appliances, an open staircase and patio doors that lead out to the garden. On the first floor is a spacious main bedroom with naturally-lit, en-suite shower room plus a second double bedroom, a family bathroom and an additional room which could serve as an office or third bedroom (with the fitting of a door). Well insulated walls, floor and roof, high performance glazing and a modern gas central heating system all contribute towards a very good energy-efficiency rating. A driveway provides space for off-street parking and the railway stations and town centres of Warwick and Leamington Spa can also be reached via brief bike ride. Leamington Shopping Park is close by and there are a number of highly-rated schools in the local area.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ ]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Heylo. Heylo Housing requires that all applicants must have a permanent right to reside in the UK.
Tenure: Leasehold (999 years less 6 days from 30/09/2022).
Minimum Share: 60% (£222,000).
Shared Ownership Rent: £408.30 per month (this figure is from April 2024 and subject to annual review).
Building Insurance + Lease Management Fee: £40.06 per month (subject to annual review).
Guideline Minimum Income: Dual - £56,700 | Single - £65,200 (based on minimum share and 10% deposit).
Council Tax: Band D, Warwick District Council. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone.

WHAT IS SHARED OWNERSHIP ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and Homes England outside of London.

IS SHARED OWNERSHIP FOR YOU ?

The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.