The Furrow, Littleport, CB6
- PROPERTY TYPE
Semi-Detached
- BEDROOMS
2
- BATHROOMS
2
- SIZE
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Key features
- • Lease granted on 22/05/2020 for a term of 99 Years
- remaining rent £251.13 (includes building insurance)
- opportunity to staircase
- semi-detached
- two generous bedrooms
- spacious rear garden
Description
Shared Ownership is an affordable, flexible option of purchasing a home and a great way to get a foot on the property ladder if you’re currently unable to buy a property outright on the open market. Shared Ownership is a Government funded Low Cost Home Ownership
(LCHO) product. It allows you to purchase a share in a property that’s affordable to you, whilst paying a subsidised rent to Longhurst Group for the unsold equity that remains in our ownership. When the time’s right for you, you can Staircase and buy additional shares in your home and if your lease allows, you can purchase the Freehold interest to own your home outright.
Shared ownership criteria:
Shared Ownership is normally aimed at
first time buyers who are unable to buy
a suitable home on the open market due
to affordability. However, non-first time
buyers may also be considered if they
meet the following criteria:
• A previous homeowner who’s looking
to get back onto the property ladder
following a relationship breakdown and
is struggling to afford a property on the
open market.
• A previous homeowner who’s had to
sell their home for financial reasons and
cannot afford to buy a property outright
on the open market.
• People who are relocating to a new area
due to work or personal circumstances
and cannot afford to buy a property on
the open market.
• Existing shared owners whose family
has grown, or circumstances have
changed, but cannot afford a home that
meets their needs on the open market.
• All applicants for Shared Ownership
must be in a position to pass
affordability and financial assessments
and be in a position to secure a
mortgage for the share. This includes
providing evidence that you have
enough savings to cover the mortgage
deposit (normally five to 10 percent) and
your moving and legal costs.
• Cash purchasers, buying the share
from equity from the sale of a marital
home will also need to provide financial
assessment evidence that the property
is affordable in the longer term.
Buyers must apply for the property and once accepted will be required to be a £250 non-refundable reservation fee is payable. This is credited to the rent account upon completion of the sale.
You’re unable to buy a Shared Ownership
home if you already own a home in
the UK or aboard or if you have a joint
household income of over £80,000 per
annum.
Shared Ownership homes can only be
purchased as principal homes and cannot
be bought for letting or subletting
purposes or for financial gain.
Contact us to arrange your viewing and for anymore information regarding an application.
Brochures
Brochure 1Tenure: Leasehold You buy the right to live in a property for a fixed number of years, but the freeholder owns the land the property's built on.Read more about tenure type in our glossary page.
GROUND RENTA regular payment made by the leaseholder to the freeholder, or management company.Read more about ground rent in our glossary page.
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ANNUAL SERVICE CHARGEA regular payment for things like building insurance, lighting, cleaning and maintenance for shared areas of an estate. They're often paid once a year, or annually.Read more about annual service charge in our glossary page.
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LENGTH OF LEASEHow long you've bought the leasehold, or right to live in a property for.Read more about length of lease in our glossary page.
95 years left
Council TaxA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council tax in our glossary page.
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The Furrow, Littleport, CB6
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Littleport Station0.9 miles
- Ely Station4.7 miles
- Shippea Hill Station5.1 miles
About the agent
iad, Nationwide
50 Seymour Street, London, W1H 7JG
At iad we equip our agents with exclusive digital tools, ensuring they are at the forefront of the industry. Professional training is a cornerstone, empowering our agents to navigate the complexities of the market with finesse. With a vast contact network, our agents bring unparalleled connectivity to your property journey.
Experience the perks of personalised service at every stage, from a meticulous property price estimation to a seamless final sale. Our digital business model
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