Rivers Meet, Cleeve Mill Lane
Newent
Gloucestershire
GL18 1DS
Witherby Walk, Bream - Shared ownership
50% Shared ownership £95,000
2 Bedroom House - Mid Terrace
- 2 bed shared ownership
- Gas Central Heating
- Allocated Parking
- Low maintenance private garden
- Local connection to Forest of Dean required
- Newly fitted Wetroom
- New Boiler
- New windows and door
A rare chance to buy a 2 bed shared ownership home in the rural village of Bream.
Property has recently has a new boiler, new windows and doors and a luxurious wet room.
Local connection to the Forest of Dean required
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.
Eligibility Criteria
To be eligible for Shared Ownership you need to:
- be a first-time buyer, an existing shared ownership homeowner, or a former homeowner who can’t afford to buy now
- be over 18 years old
- have an annual household income of less than £80,000 (£90,000 in London).
If you wish to buy one of these properties we need to assess your eligibility for shared ownership. For this we need to see:
•Proof of ID
•Proof of address
•Proof of deposit
•Full details for each buyer
You will also be required to complete an application form and an affordability calculation.
Property layout
Ground Floor;
Wide hallway leading to:
Kitchen with fitted oven hob and hood 224cm x 305cm
Large cloakroom, understairs storage
Lounge / Diner with access through to low maintenance garden 447cm x 372cm
First floor;
Stairs to wide hallway, Airing cupboard access to
Bedroom 1 - 450cm x 287cm
Bedroom 2 - 450cm x 273cm
Wet room
Outside - Allocated parking to the front
Private low maintenance garden to the rear
Services
All mains services are connected.
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.
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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