Flat 11, Meadow Heights, Fir Street, Ramsbottom

Property details

• 2 bedroom, first floor apartment
• discounted price £65,000 (50% share). The remaining share is retained by the Plumlife Homes
• monthly rent: £235.86
• service charge: £139.76 per annum (April – March)

A well presented two bedroom first floor apartment, located within easy reach of the town centre and local transport routes. This apartment, which is being sold as a 50% share, briefly comprises of a communal entrance hall, entrance to the flat with a hallway, lounge and dining area, kitchen, two bedrooms and a bathroom. Externally there is an allocated parking space inside the gated development accessed via remotely operated gates.

Shared Ownership Details

This property is offered for sale on a shared ownership basis. Shared ownership is a part-buy, part-rent scheme. It is supported by the Government and gives people the opportunity to buy a share in a property and pay a reduced rent on the remaining share. This means that buyers will need a smaller mortgage and deposit (minimum 5% subject to lender requirements) than they would need if they were buying the property outright. They will also have the option to buy more shares in the future, as and when they can afford to.

Basic Eligibility Criteria

In order to be considered for this property, applicants must meet the following criteria.

You must:

• be at least 18 years of age.
• not own any other residential property (applications from homeowners may be considered if they can demonstrate that they are in the process of selling their current home. Equity from the proceeds of a sale will be taken into account).
• agree to use the property as their own/main home throughout ownership, it cannot be rented out.
• not have a household income of more than £80,000 per annum.
• be able to demonstrate a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home during a financial assessment/credit check (please make sure your finances are in order before you apply to buy).

Applicants are unable to use housing benefit to buy a shared ownership property.

Shared Ownership specialist Metro Finance, maybe able to help you with eligibility and mortgage requirements.