Iford Close, Coate, Swindon

Shared Ownership

This superb modern home is available to buy from as little as £120,000 with a 40% share!

The well presented double fronted three bedroom home provides spacious, well planned accommodation and is located in Coate Village. On the ground floor, there is a spacious living room, large kitchen/dining room and a downstairs cloakroom. Upstairs, there are three well proportioned bedrooms and a bathroom. Outside, there is a car port providing parking and a private garden at the rear.

Coate is located approximately 3 miles from Swindon town centre and provides some every day amenities. There are various parks and outdoor spaces nearby and a much broader range of amenities in Swindon itself. A popular attraction is Coate Country Water Park offering walking trails, splash parks, a café, and more.

Swindon Railway Station operates regular services to London, Bristol, Cardiff and other locations.
Swindon Outlet is a major shopping hub providing a variety of shops, cafes and kids play areas.


PRICING & AFFORDABILITY

Full Market Value: £300,000

40% Share Price: £120,000 (rent £406.61 pcm)
Minimum 5% Mortgage Deposit (40% share): £6,000
Approximate Service Charges: £37.16pcm*
Lease: 116 years

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

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

• Your annual 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.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

** This home can also be purchased outright (100% of the value) which is £300,000 and a purchaser would not need to meet the eligibility criteria listed above.