Flax Mill Park, Devizes, Wiltshire

Shared Ownership

Available from just £46,000 for a 40% share, this one-bedroom apartment offers a fantastic opportunity to get on the property ladder in a desirable Devizes location.

Offered with no onward chain, the property comprises an entrance hall, spacious double bedroom, bright and generously sized living/dining room with a Juliet balcony, and a separate dual-aspect kitchen that remains open to the main living space. A modern family bathroom completes the layout.

Further benefits include an allocated parking space, brand-new 125-year lease, and immediate availability – perfect for first-time buyers or those seeking a low-maintenance home.

PRICING & AFFORDABILITY

Approximate Size 48 sq m

Full Market Value: £115,000

40% Share Price: £46,000 (rent £158.13pcm)
50% Share Price: £57,500 (rent £131.77pcm)
Minimum 5% Mortgage Deposit (40% share): £2,300

Approximate Service Charges: £140.43 pcm*

Lease: this property will be given a new 125 year lease

ELIGIBILITY

Local Connection to Wiltshire Required. There is a local connection clause related to this property and this means that applications can only be received from someone with connection to the local area, via work, family or currently living in the borough in accommodation that does not fit their needs. Wiltshire Council requires that any interested applicants must first register with Homes4Wiltshire

The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright.

At Flax Mill Park you can buy a minimum 40% share of your home (the maximum you can buy initially is 50%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for this shared ownership home you would need to meet the following criteria:

• Your household income does not exceed £80,000
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change.