• Tenure: leasehold
• Property type: Semi detached
• Council Tax Band: NA

Apply now for a stunning newbuild Shared Ownership (part buy, part rent) 2 bedroom 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 £85,000 – FULL MARKET VALUE £340,000.

• Monthly rent example on un-owned 75% share: £584.38
• Monthly initial estimated service charges: £36.83
• The minimum Share available to purchase is from 25% up to a maximum of 75%

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 suitable home 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 Selborne Park, 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.

Specification:
Fitted kitchen including oven, hob and extractor
The homes will be decorated in a neutral style throughout
Gas Combi Boiler
Current plots 67, 71, 72 feature two parking spaces^ (demised)

^parking spaces do not include EV charging points.

• If you’re offered a Shared Ownership home with us, please note there is a reservation fee of £99 (non-refundable), which will be deducted from the monies you pay at completion.
• Staircasing to 100% is available on these homes, see the key info document for more information about this.
• Eligibility conditions apply, you can view details and more information about Shared Ownership here https://yourvividhome.co.uk/what-is-shared-ownership

VIVID are selling these homes off plan, so viewings are not available until later on in your purchase.

Please note that if you’re viewing this property via an app, you won’t be able to view the development brochure which includes key information about shared ownership, so please visit https://yourvividhome.co.uk/developments/selborne-park.