The Development

This apartment is ideally situated in the pretty village of Woodhall Spa very close to the village centre. Woodhall Spa is considered one of the prettiest villages in Lincolnshire and famous for its peaceful and relaxing atmosphere. It has a selection of shops including supermarkets and locally produced food shops, a hardware store, a cinema and an outdoor heated swimming pool. It has a primary school and two secondary schools at Horncastle which is only 7 miles away and one at Tattershall which is only 4 miles away. It is also situated only 19 miles from the City of Lincoln which has its own railway station and lots of high street shops and restaurants.

The Property

This property briefly comprise of an Entrance Hall, Bathroom, 2 Bedrooms Open Plan Kitchen/Dining Room/Lounge area. Additional benefits include allocated parking for one vehicle and an enclosed communal rear garden with shed.

Council Tax TBC – Band B

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 1^st.  This will include Buildings insurance, management and any communal/estate charges that may be covered.  This figure is £98.11 pcm.

Ground Rent – Not applicable

NEXT STEPS:

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 property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Over time, you can purchase more shares in your property – this is known as ‘staircasing’. This can be done at any time after initial purchase and it will reduce the amount of rent you pay, as the share of the home that you do not own will have got smaller.

We will offer shares between 25-75% of the property value depending on the outcome of the affordability assessment. The higher the share you purchase, the lower your rent will be. You will need to be able to obtain a mortgage for the share you want to purchase unless you have sufficient funds to enable you to purchase a share outright. Deposit amounts will be lower than purchasing a property on the open market also 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 onto the property 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.

*Please note some images are typical and should be used as a guide only.