We have just one flat remaining for sale at our brand new development on Bromley Road in Kingsway, Gloucester. This beautiful one bedroom flat is available immediately through shared ownership and you can buy a 40% share for just £47,000.
This is a great way to get onto the property ladder especially if you only have a small amount saved up for the deposit or the amount you can borrow is limited as you are on a lower income. Purchasing a 40% share of the property would be possible with a deposit of just £4,700 and the monthly payments would be around £468*.
To be eligible you need to be registered with Help to Buy South, ideally have a local connection to Gloucester, be able to pay the deposit and cover any legal costs of purchasing a home, have a household income of under £80,000 and not be able to afford a suitable home on the open market.
This is a perfect opportunity to buy your first home but you don't have to be a first time buyer to be eligible. For example, if you are selling a jointly owned home due to a relationship breakdown but are not able to buy alone on the open market then you would be eligible providing you meet the other eligibility criteria.
The flat is at the back of a small block of 12 properties. The brand new fitted kitchen includes the oven and hob as well as vinyl floor covering. The bathroom also has vinyl flooring and includes an overbath shower. The property has one allocated parking space and there is a small communal garden.
* These figures are for illustrative purposes only based on a 40% share with monthlyrent of £161.56, monthly service charge of £71.12 and monthly mortgage payment of
£235.12 (Based on mortgage of £42,300 over 25 years at 4.5%) You should obtain your own independent financial advice.