About this property

*SHARED OWNERSHIP*

IMPORTANT: THIS PROPERTY IS ON AN OPERATING BUILDING SITE, VIEWING IS STRICTLY EITHER ONLINE OR BY APPOINTMENT ONLY.

CONTACT BROWN&CO TO VIEW. VIEWERS MUST BE REGISTERED ON HELPTOBUYAGENT3 WEBSITE TO VIEW.

PHOTOGRAPHS AND VIDEO TAKEN WHILST UNDER CONSTRUCTION.

*£225,000 Full Market Value own from just 25% at £56,250*.

A newly constructed two bedroom mid-terrace home on the wonderful Butterfields Meadow development in Hunstanton by Hopkins Homes. The house has a superb elevated position on the development with some far reaching views. The house is offered under the shared ownership scheme. Further details of the helpful scheme are listed below.

8 Sandpiper Street in Hunstanton is a two bedroom mid-terrace newly built property. Inside there is a reception hallway, wc, fitted kitchen and open plan sitting and dining room. Upstairs there are three bedrooms and a family bathroom. Outside there is a landscaped front garden, with the rear garden finished and turfed with fenced boundaries. There is dedicated private parking. Heating is a highly efficient gas system with sealed unit double glazed windows throughout. First hand inspection of this wonderful development is highly recommended and this scheme is a superb way to acquire a house on this prestigious site.

Detail List
3 bedroom Mid Terrace House
Gas heating

Property comprises of

Ground Floor
Lounge
Under stair store cupboard
Kitchen - with space for a fridge freezer, cooker and washing machine
Cloakroom
Hallway

First floor
3 bedrooms
Family bathroom
Landing
Airing cupboard

UPVC windows throughout
Own gardens
2 allocated parking spaces

Full Market Value = £225,000
Minimum share price £56,250 (25%)
Service charges £14.38 per month
Rent set at 2.75% of remaining HA equity
100% stair casing available

15 miles from King's Lynn town centre; regular bus routes;
Property connected to the mains sewer; Mains water, electricity and telephone are provided.
Buyer responsible for arranging for the final telephone connection.


What is Shared Ownership?
Shared Ownership gives first time buyers and those that do not currently own a home, or perhaps think they cannot afford a home, the opportunity to purchase a share in a new build or resales property, The purchaser pays a mortgage on the share they own, and pays rent to a housing association on the remaining share. Because the purchaser only needs a mortgage for the share they are purchasing, the amount of money required for a deposit is a lot lower when compared to the amount that would be required when purchasing outright. Shared ownership is a government backed scheme.

The purchaser has the option to increase his share during their time in the property via a process known as 'staircasing', and in most cases can staircase all the way to 100%, thereby owning the property outright. snared ownership properties are always leasehold.

How shared ownership works
With shared ownership, you buy between a quarter and three-quarters of a property. You have the option to buy a bigger share in the property at a later date. These schemes are aimed at people who don't earn enough to buy a home outright. Most of the homes available are newly built, but some are properties being re-sold by housing associations.

Who can apply for Shared Ownership?
- First-time buyers or those who used to own a home but can't afford one now
- People whose combined household income is less than £80,000 (in London, it's less than £90,000)
- You rent a council or housing association property.
You don't have to be a key worker, such as a nurse or teacher, to apply for shared ownership. Military personnel will be given priority over other applicants.

Advantages of shared ownership
It can enable you to get onto the property ladder more quickly than you might if you were buying a home outright. You can buy additional shares as time goes on and you save more or pay off more of your mortgage It may be cheaper than renting (but not always) You can sell a shared ownership property at any time, and will benefit from any increase in value it's seen since you bought it.