A 75% Shared Ownership home at Barn Owl Close in Reedham from Badger Building.
Plot 11 - 2 bed semi detached 75% shared ownership house.
(FULL MARKET VALUE £210,000, 75% SHARE £157,500)
In accordance with the planning permission, priority will be given to prospective buyers who:
* have a local connection to the Broadland District Council area
* are unable to purchase a property on the open market
* has an annual income of no more than £80,000
The property is being sold as a shared ownership property which means you are not buying the property outright but rather will buy a 75% interest in the property. Upon legal completion, the freehold will be transferred to Asett Homes Ltd who will simultaneously grant to you a Lease of the property which will be for 125 years. There will be included within the Lease an option for purchasers to 'staircase' and purchase the remaining 25% equity from Asett Homes and in doing so acquiring the Freehold.
Please note that rent is payable on the 25% interest that you do not own and this rent is payable to Asett Homes. The annual rent will not exceed 2.75% of the value of this 25% interest but is subject to increases not exceeding the Retail Price Index published by the Office for National Statistics.
Current homeowners are not eligible to buy these properties. The property must remain as your sole residence and cannot be sublet without prior permission from Asett Homes.
Purchasers will need to have been verified by registration with the Help to Buy Agents https://www.helptobuyese.org.uk/help-to-buy/shared-ownership where an online application form can be completed.
Lounge/Dining 4.48 x 4.47m 14'8" x 14'8"
Kitchen 3.29 x 2.70m 10'9" x 8'10"
Bedroom 1 4.48 x 3.51m 14'8" x 11'6"
Bedroom 2 4.48 x 2.72m 14'8" x 8'11"