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Platform Home Ownership are delighted to offer for shared ownership this three bedroom semi detached house for sale in Oakham. This property was built 2019 and not newbuild.
Oakham is the county town of Rutland in the East Midlands of England, 25 miles east of Leicester, 28 miles south-east of Nottingham and 23 miles north west of Peterborough. Oakham is to the west of Rutland Water and in the Vale of Catmose. Oakham is a pretty, traditional English market town, bustling with activity. Packed with heritage.
The accommodation comprises, entrance hallway with cloakroom/wc off, lounge with bi-folding doors to garden, fitted kitchen. To the first floor master bedroom with en-suite, two further bedrooms and bathroom/wc. Carport and parking rear turfed garden.
Full market value £280,000
£70,000 for a 25% share, monthly rent on the remaining share £481.25
£98,000 for a 35% share, monthly rent on the remaining share £417.08
£140,000 for a 50% share, monthly rent on the remaining share £320.83
Other shares can be purchased subject to an affordability assessment.
Examples of deposit rates are based on our minimum required deposit rate of 5%. However please seek financial advice to confirm what deposit rate is available to you.
Council Tax TBC
Service Charge - A service charge will be charged against the property and is paid monthly with your rent payment. The service charge is reviewed on an annual basis on April 1st. This will include Buildings insurance, management and any communal/estate charges that may be covered (if applicable).
Ground Rent - we do not charge a Ground Rent.
Homes England Key Information Document - please refer to our website to read through our key information document for this property. This will include pricing details, eligibility and some lease information.
1. For further information, please download our brochure below.
2. TO APPLY NOW, please make an enquiry to contact Platform Home Ownership, the relevant sales consultant will then send you an application form to complete.
3. Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.
4. Once you have passed the affordability assessment, we will then be in contact to confirm the availability.
5. If there is a suitable property we will then issue out your offer letter and advice on how to pay your £250.00 reservation fee for your new home.
Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. It allows you to buy a share in a leasehold property on a part buy/ part rent basis and pay a subsidised rent on the part that you do not own. After the initial purchase it is possible to buy further shares and eventually own these properties outright.
We will offer shares for sale normally between 25-75% of the property depending on how much you can afford to purchase, and charge rent on the remaining share. The bigger the share you buy, the less rent you have to pay. You will need to be able to raise a mortgage for the share you want to purchase unless you have sufficient money to enable you to purchase without. The combined cost of mortgage and rent is often cheaper than privately renting in the area.
For more detailed information and your obligations in relation to shared ownership please download our 'Guide to Shared Ownership'
Am I eligible?
Shared Ownership uses the following criteria to help people to get a foot on the housing ladder:
- Maximum annual household income of £80,000.
- Unable to purchase a home suitable for your needs.
Please visit the Homes England website for further guidance using the Homes England Eligibility Checker.