About this property

*BRAND NEW SHARED OWNERSHIP* CONTACT BROWN&CO TO VIEW. A newly constructed two bedroom semi-detached home in East Winch, Norfolk. The property has a superb design and has been beautifully built

VIEWERS MUST VISIT HELPTOBUYAGENT3 WEBSITE prior to viewing to ascertain whether they are able to proceed.

A newly constructed two bedroom semi-detached home in East Winch, Norfolk. Further details of the helpful purchase scheme are listed below.

*IMPORTANT NOTICE - THE PROPERTY IS ON A WORKING BUILDING SITE, UNDER NO CIRCUMSTANCES ARE INTERESTED PARTIES TO VISIT THE SITE WITHOUT AN APPOINTMENT*

VIEWERS MUST VISIT HELPTOBUYAGENT3 WEBSITE prior to viewing to ascertain whether they are able to proceed.

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.

CURRENT MARKET VALUE - £190000

MIN SHARE 25% - £47500

MAXIMUM STAIRCASE 80% Rent Payable on the Balance at 2.75% - Based on minimum share purchase balance of £150,000 remains, rent will be approximately £3918.75 per year paid over 12 months £326.56 pcm (for guidance purposes only)

SERVICE CHARGES - APPROX £12.17 PCM

Internal features

Electric air source heating Ground floor comprises, hallway, WC, sitting room and kitchen dining room.

First Floor comprises, two bedrooms, landing and bathroom.

Parking - Parking is provided at the front of the property on a private driveway/

Gardens - Front and rear garden.

Windows are UPVC double glazed. Internal walls and ceilings are plastered and painted.

The property benefits from a fitted kitchen with space for a cooker, washing machine and fridge freezer (to be confirmed as correct). The kitchen has a stainless steel sink and drainer with complimenting wall and base units.

Vinyl floor finishes are provided in the kitchen, bathroom and ground floor WC

A contemporary bath room suite has been fitted to the first floor bathroom. There is a matching WC and basin located in the ground floor cloakroom

Space and water heating is provided by an air source unit, this provides the hot water via a storage cylinder and space heating through wall mounted radiators.

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 to 80% or, in some properties, all the way to 100%, thereby owning the property outright. Shared 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.