The Furrow, Littleport, CB6

This home has been tastefully decorated and it is noticeable throughout that the current owner has kept the property in good condition and is ready to move straight into. This property is located within catchment for popular local schools and is within walking distance to Littleport train station, ideal for commuters. The layout of this home is both practical and proportionate with the benefit of parking and a generous rear garden.

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.