Poltimore Way, West Clyst, Exeter

Shared Ownership

This superb modern home is available to buy from as little as £112,000 with a 40% share!

A well-proportioned two-bedroom house offering approximately 714 sq ft of accommodation arranged over two floors. The ground floor features a spacious diner/living room, separate kitchen and a convenient downstairs WC, while upstairs provides two good-sized bedrooms and a family bathroom.

The property offers a practical layout with a generous 15'7" living/dining room, a separate fitted kitchen and useful downstairs WC. Upstairs, both bedrooms are well proportioned, with the main bedroom measuring approximately 15'7" x 9'1". The property also benefits from its own entrance and a well-planned arrangement throughout. The property also comes with 2 parking spaces.

Situated in Exeter, the property is well placed for access to a range of local amenities, shops and everyday services, with the city centre offering a wider selection of retail, leisure and dining facilities. Exeter also benefits from strong transport links, including rail connections and easy access to the wider road network.

PRICING & AFFORDABILITY

Full Market Value: £280,000

40% Share Price: £112,000 (rent £385.26pcm)
Minimum 5% Mortgage Deposit (40% share): £5,600
Approximate Service Charges: £54.87pcm*
Lease: 117 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:

• Applicants must live, work or have family connections to the Easst Devon Disctrict Council region
• 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.

LOCAL AREA CONNECTION
Please note that applicants for this property must have a local connection to East Devon. Applicants will need to demonstrate that they live or work within East Devon, or have immediate family living within the area.

*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 £280,000 and a purchaser would not need to meet the eligibility criteria listed above.