Forest Road, Kingswood, Bristol, Gloucestershire, BS15

Property Details: • Type: Terraced • Tenure: N/A • Floor Area: N/A

Key Features:

Location: • Nearest Station: N/A • Distance to Station: N/A

Agent Information: • Address: 74 Regent Street, Kingswood, Bristol, Avon, BS15 8JA

Full Description: SHARED OWNERSHIP two-bedroom house available to purchase with a 40% share from £112,000 with a minimum 5% mortgage deposit of £5,600. Call today to arrange your appointment to view and check eligibility.You can apply to buy the home if both of the following apply:• your household income is £80,000 or less• you cannot afford all of the deposit and mortgage payments to buy a home that meets your needsOne of the following must also be true:• you're a first-time buyer• you used to own a home but cannot afford to buy one now• you're forming a new household - for example, after arelationship breakdown• you're an existing shared owner, and you want to move• you own a home and want to move but cannot afford to buy a new home for your needs If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase. As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments. If there is a local connection criterion, it will be attached to the how to apply email. The share purchase price is calculated using the full market value and the percentage share purchased. If you buy a 40% share, the share purchase price will be £112,000 and the rent will be £228.61 a month. Your annual rent is calculated as 1.63% of the remaining share of the full market value owned by the landlord.Please note that the rent is only calculated as a percentage of the retained equity when the lease is granted. All resales properties willhave been subject to annual rent increases, which mean that the rent no longer represents a percentage of the retained equity. Furtherdetails of the rent review periods and calculations are contained within this document.All figures are subject to change.In addition to the rent above, the monthly payment to the landlord includes:Service charge £4.71Buildings insurance £12.60LiveWest Management Charge £13.33Total monthly payment excluding rent £30.64(These are subject to change during the purchase process)You’ll need to pay a reservation fee of £500.00 to secure your home. When you pay the fee, no one else will be able to reserve the home. If you complete on the purchase of your home, the reservation fee will be added to your rent account. If you or the seller withdraw from the sale the £500.00 will be refunded. You may purchase a higher share should you qualify to.*The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright. When you’re ready, you can buy more shares until you staircase to owning 100% of your home.Please note, as a Shared Ownership purchase there are likely to be additional legal fees during the conveyancing process, your solicitor can advise you of these.