Church Bank, Terrington St. Clement
- CONTACT BROWN&CO TO VIEW
- Shared Ownership -
- Own up to 80% with staircase
- Own from 25%
- Low service charge
- Popular and very well appointed village
- Close to town of Kings Lynn and mainline stations to Ely, Cambridge and London
- Two bedrooms, parking, sitting room, kitchen dining room wc and bathroom
- Schools nearby just a few minutes walk
- Buyers must check eligibility before viewing
A newly constructed two bedroom detached home in Terrington St Clement. Further details of the helpful purchase scheme are listed below.
*IMPORTANT NOTICE - THE PROPERTY IS ON A WORKING BUILDING SITE, UNDER NO CIRCUMSTANCES ARE INTERESTED PARTIES TO VISIT THE SITE WITHOUT AN APPOINTMENT* Photos shown are typical of house design and actual house may vary in orientation of layout.
VIEWERS MUST VISIT prior to viewing to ascertain whether they are able to proceed.
What is Shared Ownership? Shared Ownership gives first time buyers and those that do not currently own a home, or perhaps think they cannot afford a home, the opportunity to purchase a share in a new build or resales property, The purchaser pays a mortgage on the share they own, and pays rent to a housing association on the remaining share. Because the purchaser only needs a mortgage for the share they are purchasing, the amount of money required for a deposit is a lot lower when compared to the amount that would be required when purchasing outright. Shared ownership is a government backed scheme.
Current Market Value - £200,000
Min Share 25% - £50,000
Maximum Staircase 80% Rural Rent Payable on the Balance at 2.75% - Based on minimum share purchase balance of £150,000 remains, rent will be £4125 per year paid over 12 months £343.75 pcm
Service charges - approx. yearly - £12.17 pcm approx.
Electric air source heating Ground floor comprises, hallway, WC, sitting room and kitchen dining room.
First Floor comprises, two bedrooms, landing and bathroom.
Parking - Allocated parking is provided by way of two spaces adjacent to plot.
Gardens - Front and rear garden.
Windows are UPVC double glazed. Internal walls and ceilings are plastered and painted.
The property benefits from a fitted kitchen with space for a cooker, washing machine and fridge freezer (to be confirmed as correct). The kitchen has a stainless steel sink and drainer with complimenting wall and base units.
Vinyl floor finishes are provided in the kitchen, bathroom and ground floor WC
A contemporary bath room suite has been fitted to the first floor bathroom. There is a matching WC and basin located in the ground floor cloakroom
Space and water heating is provided by an air source unit, this provides the hot water via a storage cylinder and space heating through wall mounted radiators.
The purchaser has the option to increase his share during their time in the property via a process known as 'staircasing', and in most cases can staircase to 80% or all the way to 100%, thereby owning the property outright. shared ownership properties are always leasehold.
How shared ownership works With shared ownership, you buy between a quarter and three-quarters of a property. You have the option to buy a bigger share in the property at a later date. These schemes are aimed at people who don't earn enough to buy a home outright. Most of the homes available are newly built, but some are properties being re-sold by housing associations.
Who can apply for Shared Ownership?
- First-time buyers or those who used to own a home but can't afford one now
- People whose combined household income is less than £80,000 (in London, it's less than £90,000)
- You rent a council or housing association property.
You don't have to be a key worker, such as a nurse or teacher, to apply for shared ownership. Military personnel will be given priority over other applicants.
Advantages of shared ownership It can enable you to get onto the property ladder more quickly than you might if you were buying a home outright. You can buy additional shares as time goes on and you save more or pay off more of your mortgage It may be cheaper than renting (but not always) You can sell a shared ownership property at any time, and will benefit from any increase in value it's seen since you bought it.
Church Bank, Terrington St. Clement
NEAREST STATIONSDistances are straight line measurements from the centre of the postcode
- Kings Lynn Station4.5 miles
About the agent
Brown & Co is a broad based independent firm of property practitioners, successfully combining traditional values of client care and communication with the latest technological advances within the residential agency world. We are at the forefront of agency in the towns and cities in which we operate within the East Midlands and East Anglia, also benefiting from national coverage via the London Office at St James's Place and even overseas offices. Whether buying or selling we offer a full ra
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Disclaimer - Property reference 100005025265. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Brown & Co, King's Lynn. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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