2 Bed Detached House For Sale

The Appleby - 2 bedroom semi detached house - 3 Plots Available

Plots 1, 2 and 3, Oakleys Road, Long Eaton, Derbyshire NG10 1FQ

*£1000.00 towards legal fees when using the providers preferred solicitor and have a confirmed reservation by 31 October 2024

FULL MARKET VALUE £210,000. The property is being offered for sale via the Shared Ownership Scheme.

The share purchase price is calculated using the full market value and the percentage share purchased.

If you buy a 25% share, the share purchase price will be £52,500 and the rent will be £360.94 per month.

If you buy a larger share, you'll pay less rent. The table below shows further examples.

Share Share Purchase Price Monthly rent

SHARE: 25% / SHARE PURCHASE PRICE: £52,500.00 / MONTHLY RENT: £360.94

SHARE: 30% / SHARE PURCHASE PRICE: £63,000.00 / MONTHLY RENT: £336.88

SHARE: 40% / SHARE PURCHASE PRICE: £84,000.00 / MONTHLY RENT: £288.75

SHARE: 50% / SHARE PURCHASE PRICE: £105,000.00 / MONTHLY RENT: £240.63

SHARE: 60% / SHARE PURCHASE PRICE: £126,000.00 / MONTHLY RENT: £192.50

SHARE: 70% / SHARE PURCHASE PRICE: £147,000.00 / MONTHLY RENT: £144.38

SHARE: 75% / SHARE PURCHASE PRICE: £157,500.00 / MONTHLY RENT: £120.31

The percentage share and rent amount will change depending on the amount you can afford. You'll receive a worked example after a financial assessment.

Your annual rent is calculated as 2.75% of the remaining share of the full market value owned by the landlord

In addition to the rent above, there is an additional monthly payment to the landlord which includes a service charge and building insurance payment equating to £16.13.

Eligibility

To assess your eligibility, you'll need to complete an online application form.

You can apply to buy the home if both of the following apply:

• your household income is £80,000.00 or less

• you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs

One of the following must also be true:

• you're a first-time buyer

• you used to own a home but cannot afford to buy one now

• you're forming a new household - for example, after a relationship breakdown

• you're an existing shared owner, and you want to move

• you own a home and want to move but cannot afford to buy a new home for your needs

If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.

As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.