Property Details: - Type: Studio - Bedrooms: 0 - Bathrooms: 1

Agent: SOWN - National Phone: 023 8221 9179

Shared Ownership<br/><br/>This superb modern home is available to buy from as little as £62,500 with a 50% share!<br/><br/>A well-presented first-floor studio apartment offering bright and versatile living, ideal for first-time buyers.<br/><br/> The thoughtfully designed accommodation features a spacious open-plan living and sleeping area with direct access to a private balcony, creating a light and airy feel throughout.<br/>The property also benefits from a separate fitted kitchen, a bathroom, and useful built-in storage in the entrance hall. Externally, there is one allocated parking space along with visitor parking, adding further convenience for residents and guests.<br/><br/>Situated in a popular Milton Keynes location, the apartment is well placed for local amenities, transport links, and nearby green spaces.<br/><br/>PRICING & AFFORDABILITY<br/><br/>Full Market Value: £125,000<br/><br/>50% Share Price: £62,500 (rent £122.85 pcm)<br/>Minimum 5% Mortgage Deposit: (50% share): £3,125<br/>Approximate Service Charges: £68.81 pcm* <br/>Lease: Will be extended to 153 years on completion of the sale <br/><br/>ELIGIBILITY<br/><br/>Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.<br/><br/>To be eligible for shared ownership you would need to meet the following criteria:<br/><br/>• Your annual household income does not exceed £80,000<br/>• You have a deposit of at least 5% of the share value<br/>• You do not own another property or have your name on the deeds or a mortgage for a property worldwide. <br/>• This will be your only residence.<br/>• You are a permanent UK resident or have indefinite right to remain.<br/><br/>*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.<br/>