2 bed semi-detached house for sale

Highland Park, Cullompton EX15

This two-bedroom, semi-detached house is an ideal opportunity to get on to the property ladder with Hastoe. It 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= C78

Term remaining on lease: 107 years

Property features:
Carport with two parking spaces
Fitted kitchen
Gas central heating
Double glazing
Over-bath shower
Private garden
Downstairs WC with shower

Kitchen/dining: 4.4m x 2.7m

Living room: 4.8m x 3.3m/2.0m

Bedroom 1: 4.8m x 3.0m/2.3m

Bedroom 2: 4.6m x 2.7m

Purchase Requirements:
Be eligible for the shared ownership scheme
Be a first-time buyer or not currently named on a mortgage
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.

Costs:
Full Market Price: £235,000
Minimum Share: 40%
Share Value: £94,000
Monthly Rent: £281.98
Service Charge pcm (including buildings insurance): £32.99
Total Monthly Charge: £314.97
Next rental increase: April 2027

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.