Park An Dreas, Veryan, Truro, Cornwall, TR2

We are pleased to welcome a fantastic opportunity to acquire a shared ownership property which is in the delightful village location of Veryan. As you approach the property, it is tucked away in a quiet and small cul-de-sac. As you enter the property, you are welcomed by a light hallway which leads you into a good-sized living room which then leads into the kitchen/dining area. Upstairs, there is a double bedroom, a single bedroom, as well as a shower room. Throughout the property, there is electric heating as well as the property benefitting from utilities such as mains water, electric and drainage. The garden to the rear is mostly lawn and enclosed along with parking for 2 cars to the front of the property. This property is end of chain as well as being ready to move into, ready for the next owner to put their own stamp on the property.

If you would like to view this property, or have any questions, please contact Miller Countrywide, Truro.

About the scheme:

The share purchase price is calculated using the full market value and the percentage share purchased. If you buy a 30% share, the share purchase price will be £56,700 and the rent will be £297.28 a month. Your annual rent is calculated as 2.7% of the remaining share of the full market value owned by the landlord. Please note that the rent is only calculated as a percentage of the retained equity when the lease is granted. All resales properties will have been subject to annual rent increases, which mean that the rent no longer represents a percentage of the retained equity. Further details of the rent review periods and calculations are contained within this document.

In addition to the rent above, the monthly payment to the landlord includes:

Service charge £0.00
Buildings insurance £12.60
Total monthly payment excluding rent £12.60
(these are subject to change during the purchase process)

You’ll need to pay a reservation fee of £500 to secure your home. When you pay the fee, no one else will be able to reserve the home. If you complete on the purchase of your home, the reservation fee will be added to your rent account. If you or the seller withdraw from the sale the £500 will be refunded.

You can apply to buy the home if both of the following apply:
• your household income is £80,000 or less
• you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs

One of the following must also be true:
• you're a first-time buyer
• you used to own a home but cannot afford to buy one now
• you're forming a new household - for example, after a relationship breakdown
• you're an existing shared owner, and you want to move
• you own a home and want to move but cannot afford to buy a new home for your needs

If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.
As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.