Bartletts Elm, Langport, Somerset

Offered with no onward chain, this modern mid terrace home has accommodation that includes: fitted kitchen, cloakroom, a sitting/dining room and two double bedrooms which both have their own en suite. Externally is parking an an enclosed garden.

Bartletts Elm sits in Huish Episcopi, close to the historic market town of Langport. Langport offers independent shops, cafés and everyday amenities, while the River Parrett and surrounding Somerset Levels provide plenty of opportunities for countryside walks. Huish Episcopi also has a primary school, academy and local sports facilities.

For travel, the A372 connects Langport towards Bridgwater and the A303, with road links onwards to Taunton, Somerton and Yeovil. Local bus services serve those towns, while rail journeys can be picked up from stations outside Langport, including Taunton and Castle Cary.

PRICING & AFFORDABILITY

Full Market Value: £206,000

40% Share Price: £82,400 (rent £283.25pcm)
Minimum 5% Mortgage Deposit (40% share): £4,120
Approximate Service Charges: £36pcm*
Shared Ownership Lease: 990 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.

LOCAL AREA CONNECTION
As a buyer, you must have a local area connection in order to be eligible. This can be by way of living and/or working in the local borough of Langport or by having immediate family members already living in the borough. Proof approval will be required.

MANDATORY BUY BACK
This house has a 'Mandatory Buy Back' clause in the lease which means that if you own more than 80% share when you wish to sell the property, the Housing Provider has an obligation to buy your share back. If you staircase to 100% ownership at a later date the freehold of the house will NOT be transferred to you as the Housing Provider will still have an obligation to buy the property back and therefore a lease will remain in place. Please speak to a member of the team for more information.

*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.