Rivers Meet, Cleeve Mill Lane
Newent
Gloucestershire
GL18 1DS
Hewins Place, Willersey Broadway
40% Shared ownership £134,000
2 Bedroom House - End Terrace
- 40% shared ownership
- 2 bed end terraced house
- Parking
- Garden
- WC
2 bed end terrace 40% shared ownership home is located in the desirable area of Willersey, Broadway
The accommodation comprises of entrance hall, WC, kitchen, lounge with door through to rear garden and rear access. On the first floor there are two bedrooms, bathroom with shower over bath and storage cupboards.
This property also benefits from gas central heating, double glazing, enclosed rear garden, driveway parking for 2 cars.
Shared ownership information
Shared ownership is a part buy part rent property from Two Rivers Housing.
You purchase a share with the help of a mortgage based on affordability and the minimum share being sold.
OMV - £335,000
40% Share - £134,000
Rent on remaining share - £471.33pcm (please note the rent element of this payment will increase every April)
Management Fee - £25.28pcm
Buildings Insurance - £9.87pcm
Affordability checks will be carried out prior to viewing
You must have a local connection to Broadway
Ground Floor
Kitchen
3.7 x 2.9 (12'1" x 9'6")Fitted kitchen with range of wall and base units, stainless steel sink with mixer tap, space for washing machine and fridge/freezer. Electric oven with gas hob with hood over. Window to front elevation.
WC
1.8 x 0.8 (5'10" x 2'7")Low level WC and wash hand basin. Window to front elevation.
Lounge
4.9 x 3.7 (16'0" x 12'1")Window and patio doors out to rear elevation. Storage cupboard.
First Floor
Landing doors leading to 2 bedrooms and bathroom
Bedroom 1
4.9 x 3.8 (16'0" x 12'5")Windows to front and side elevation.
Bathroom
1.9 x 1.8 (6'2" x 5'10")White bathroom suite with shower over bath, low level WC and wash hand basin.
Bedroom 2
3.6 x 3.0 (11'9" x 9'10")Windows to front and side elevation.
External
Rear garden. Tandem parking for 2 cars to rear.
Buy Back Lease
In some rural areas properties must be always available for shared ownership. This means if you buy over 80% of the share of the property, the freeholder (or other Housing association) must buy your property back (at market value) if you wish to sell on.
How does Shared Ownership work?
If you bought a home on the open market, you would agree a purchase price through an estate agent. Then you would take out a mortgage to cover the total purchase price of the property minus any deposit you might have available.
With Shared Ownership, the price of the property is fixed at the open market value, as assessed by a qualified valuer. You borrow just enough to cover the share you are buying. This is referred to as equity share.
The equity share amount will be an amount that you can afford, as set out under government guidelines. The total monthly cost of the rent, plus your
mortgage, will be lower than the monthly cost if you bought the property outright with a mortgage.
For legal reasons, while you are only buying a part-share of the property, you will have a leasehold interest. However, you may buy further shares. This is called ‘staircasing’, and may
eventually progress to outright ownership.
Two Rivers Housing
TwoCan estate agents are advertising this property on behalf of Two Rivers Housing. Two Rivers Housing are the owners of Twocan
Disclaimer
All measurements are approximate. We have not checked the serviceability of any appliances, fixtures or utilities (i.e. water, electricity, gas) which may be included in the sale. We cannot guarantee building regulations or planning permission has been approved and all prospective purchasers should satisfy themselves on these points prior to entering into a contract. Consumer Protection from Unfair Trading Regulations 2008. The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.
Energy Efficiency and Environmental Impact
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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