Barrabill Way, Launceston, PL15 7FW

Highlight Housing, The Affordable Homes Agency, working with Legal & General Affordable Homes, is pleased to present this three-bedroom, semi-detached shared ownership house in Launceston. The price shown represents purchasing a 50% share of the property.

Property Overview

Legal & General Affordable Homes are pleased to present this three-bedroom, semi-detached shared ownership house built in 2021. The home benefits from gas heating with 120 years remaining on the lease and 7 years on the Nhbc warranty. Located in Launceston, you will need a local connection to the town of Launceston or the County of Cornwall to be eligible to apply.

The front door opens into the lounge, with access to the stairs. The kitchen is located behind the lounge and has soft neutral decoration with an integrated oven and hob, and a double window overlooking the rear garden provides natural light into the room. A Wc at the rear of the property completes the ground floor.

Upstairs are three bedrooms, one double and two singles. The upstairs bathroom is fitted with white tiling and a shower over the bath with a glass shower screen. To the front of the property externally, are two parking spaces, with a flowerbed and shared porch. The rear garden is laid to lawn with a patio and garden path leading to flower beds.

Financial Breakdown

• Full Market Value: £265,000
• 50% Minimum Share: £132,500
• Rent pcm: £287.57
• Service Charges pcm: £30.35
• Buildings Insurance pcm: £16.02

Local Area

Located in Launceston, Cornwall, the property provides access to the town's local amenities while being surrounded by the Cornish countryside. Launceston is a historic market town close to the Cornwall and Devon border, providing access to both counties and the wider South West.

What is Shared Ownership?

Shared Ownership offers a more accessible route to homeownership by allowing you to purchase a share of a property's value, while paying a subsidised rent on the remaining share.

Over time, you may choose to buy additional shares in your home through a process known as staircasing, potentially increasing your ownership up to 100%. Deposits and mortgage payments are based on the share purchased, meaning costs are often lower than buying outright or renting privately.

Legal & General Affordable Homes is a Registered Provider delivering Shared Ownership homes and committed to creating well designed communities and supporting buyers throughout their home buying journey.

Eligibility Criteria

As part of your application, you are required to hold a local connection to the Town of Launceston or County of Cornwall. The local connection requirements are outlined within a planning document issued by Cornwall Council called a “Section 106 Agreement”, which is unique to each new development.

To meet the local connection criteria, you will need to meet one of the following:

a) Lived in the Town of Launceston or County of Cornwall for a continuous period of at least 12 months immediately prior to advertising

b) Formerly lived within the Town of Launceston or County of Cornwall for a continuous period of 5 years.

c) Your place of work (16 hours or more a week and not including seasonal employment) is within the Town of Launceston or County of Cornwall immediately prior to advertising

d) Have a connection through a close family member (mother, father, brother, sister, son or daughter) where the family member is currently a resident and has been so for a continuous period of at least 5 years immediately prior to advertising.

*The local connection criteria does not apply if you are a serving or previously serving member of the regular armed forces or qualifying under any other clause of the Allocation of Housing (qualification criteria for armed forces) (England) regulations 2012.

Particulars

Council Tax Band: C

EPC Rating: B

Tenure: Leasehold

Lease Length: 120 years

About Highlight Housing

We are The Affordable Homes Agency.

Finding an affordable home should not feel impossible. Highlight Housing exists to improve access to good-quality, safe, affordable homes for sale and rent across the UK, working with trusted housebuilders, housing associations, private sellers and landlords.

With over 15 years' experience across shared ownership, shared equity, mid-market rent and rent to buy, we provide clear, practical guidance that helps people understand what is genuinely within reach.

Our focus is on supporting individuals and families to move forward with confidence into a secure, well managed future home they can afford.

Shared Ownership Disclaimer

Shared Ownership is subject to eligibility, affordability checks and the terms of the lease. Rent is payable on the share not owned, along with any applicable service charges and other outgoings. Staircasing is subject to a valuation at the time of purchase and additional legal and valuation costs may apply. Priority may be given to applicants with a local connection. All information provided is for guidance only and does not form part of any contract.