Apply now for a stunning newbuild Shared Ownership (part buy, part rent) 3 bedroom family home.
Shares start from 25%
Shared Ownership, also known as ‘part-buy, part-rent’ is a great option for new home buyers, or for
those struggling to save a large deposit. The Shared Ownership scheme allows you to purchase shares of your home, usually between 25% and 75%, initially and pay rent on the remaining share. Unlike buying on the open market, you don’t need a deposit for 100% of the property price. In many cases, you’ll only need a 5% deposit of the share you’re purchasing (subject to lender availability and criteria). You’ll need to be financially assessed to determine the share you are able to purchase.
MINIMUM 25% SHARE ADVERTISED AT £90,000 FULL MARKET VALUE £360,000
• Monthly rent example on un-owned 75% share: £618.75
• Monthly initial estimated service charges: £35.94
• Council Tax Band: TBC
• Predicted energy assessment rating: TBC
Who can apply for Shared Ownership?
You can apply if your household income is £80,000 a year or less and you can’t afford to buy a suitablehome on the open market.
If you’ve never owned a home before, Shared Ownership’s a fantastic opportunity to get on the
housing ladder and it’s also a great option if you’re in one of the following groups:
• You’ve owned a home before, but can’t afford to buy one now
• You’re forming a new household (for example, following a relationship breakdown)
• You’re an existing Shared Owner and want to move to a new home
• You own a home, but can’t afford to buy a new one that suits your current needs
If you own another property in the UK or abroad, you’ll need to sell this at the same time as buying
your new Shared Ownership home. So, if you’re a homeowner, VIVID will ask you to confirm your property’s under offer.
At The Paddock, you can buy additional shares in your home over time if you’d like to, so that eventually you could own 100% of the property.
VIVID is selling these homes off plan, so viewings are not available until later on in your purchase.
We are currently only accepting applications from applicants who meet the following criteria to the Arun District Council area:
• Currently living in Arun and has done for at least 3 continuous years
• Currently living in Arun and has done for at least 5 non-consecutive years in the last 10-year period
• Currently works in Arun with at least 16 hours a week for at least 2 continuous years and remains working in the Arun District
Needs to be in the Arun District to give or receive regular daily support from or to a close relative (parents, adult children, siblings). The support must be such that it is required on an ongoing and long-term basis and is not capable of being provided by other family members or available support agencies. The close relative must be permanently resident in the Arun District and have lived in the district continuously for at least 10 years immediately prior to the application date.
If you don’t meet the local connection requirements above and you’d like to hear if this criteria changes, and find out about future developments, join our mailing list here https://yourvividhome.co.uk/join-mailing-list.
ADDITIONAL INFORMATION
Services:
Water – Mains
Gas – Mains
Electric – Mains
Sewage – Mains
Heating – Ask agent
Materials used in construction: TBC
How does broadband enter the property: TBC
For further information on broadband and mobile coverage, please refer to the Ofcom Checker online
Charters Chandlers Ford
Charters Estate Agents Chandlers Ford
13 Oakmount Road
Chandlers Ford
Hampshire
SO53 2LG