2 bed terraced house for sale

Oakford Villas, North Molton EX36

This two-bedroom house is an ideal opportunity to get on to the property ladder with Hastoe. This property is being sold under the shared ownership scheme whereby you purchase a share in the property and pay a reduced rent on the remaining Hastoe equity.

EPC = B87

Property features:
Allocated parking
Private garden
Fitted kitchen
Double glazing
Downstairs WC
Air source heat pump
Restricted to 80% maximum ownership

Costs:
Full market price: £260,000
Minimum share: 25%
Share value: £65,000
Monthly rent: £446.88
Estimated service charge: £53.75

Purchase Requirements:
Be eligible for the shared ownership scheme
Demonstrate you meet the minimum income requirements
Demonstrate a deposit sufficient to obtain a mortgage for the property
Have a local connection to the area

What is shared ownership?
Shared ownership is a scheme designed to help those who wouldn’t otherwise be able to purchase a home of their own. This may be because you can’t meet the full mortgage repayments, save a sufficient deposit, or both. With shared ownership, you buy a percentage of your home and pay a reduced rent on the share you don’t own.

This property has restricted staircasing to ensure the property remains affordable for future generations of local people.

How does shared ownership work?
You will buy a percentage share of a home, independently priced at market value. Hastoe will charge you rent on the share you don’t own plus a service charge. This service charge covers things like buildings insurance and estate maintenance.

About Hastoe:
Hastoe owns and manages over 7,500 homes in 70 local authority areas. Our properties are predominantly rural and we specialise in providing sustainable and affordable rural housing to enable local people to remain within their communities.