3 bedroom town house for salePlot 18 Heritage Green, Kessingland
- 3 BEDROOM 3 STOREY TOWN HOUSE
- 75% MARKET VALUE HOME
- CHOICE OF KITCHEN & TILING (SUBJECT TO CONSTRUCTION STAGE)
- LOUNGE/DINER TO REAR
- 2 X ALLOCATED PARKING SPACES
- LOW MAINTENANCE
- 10 YEAR NHBC GUARANTEE
**FINAL PHASE PRICE RELEASE!!** **75% MARKET VALUE PRICES** (t's & c's apply) We are delighted to offer for sale the remaining properties on the ever popular Heritage Green development for Badger Building (EA) Ltd.
This new home is being sold at 75% market value on a Shared Equity arrangement. Under this scheme a purchaser will buy a share of the equity of the home and the remaining share will be owned by a separate organisation. A mortgage can be used as normal to purchase the initial 75% share and upon legal completion of the purchase a lease is granted to the buyers for 125 years.
Other than an annual peppercorn rent for the lease, there will be no rent payable on the remaining 25% share.
Purchasers are free to sell the home at any time, but the market value will only be received on the share that you own.
After 5 years of the initial purchase, buyers have the option to buy the remaining 25% share in the property. If they take-up this option then they will also be able acquire the full freehold. This is referred to as 'stair-casing'.
Initially, Badger Building will be selling this properties and on completion of the purchase Asset Homes, who are a registered Homes England provider, will retain the remaining 25% equity including the freehold. As a result, Asset Homes will be the Landlord and will grant the lease upon legal completion. The Lease arrangements for this scheme are based on Homes England standard Shared Ownership model lease, as agreed with the Council of Mortgage Lenders.
To qualify for a shared equity property, certain eligibility criteria must be met. An annual household income must not exceed £60,000, a connection to Waveney must be demonstrated and the property must be your sole residence. Please speak to The Property People sales staff for full details and an eligibility application form.
LOUNGE/DINER 14' 8" x 12' 1" (4.47m x 3.68m)
KITCHEN 8' 10" x 8' 3" (2.69m x 2.51m)
BEDROOM ONE 12' 1" x 10' 6" (3.68m x 3.2m)
BEDROOM THREE 12' 1" x 9' 6" (3.68m x 2.9m)
BEDROOM TWO 15' 5" x 8' 6" (4.7m x 2.59m)
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