4 bed semi-detached house for sale

William Close, Ottery St. Mary, Devon EX11

Shared Ownership

This superb modern home is available to buy from as little as £92,500 with a 25% share!

A truly beautiful family home offered to the market in Ottery St Mary. This property provides rarely available accommodation comprising four spacious bedrooms, two bathrooms and a downstairs WC, a bright and airy living/dining room and a kitchen/breakfast room. At the front of the property there is driveway parking and a garage. To the rear there is a beautiful sunny aspect garden with a patio area, expanse of lawn and a covered area behind the garage which currently houses a hot tub.

Ottery St Mary, which is known locally as Ottery, sits on the banks of the River Otter which offers walks down to the estuary in Budleigh Salterton. Amenities in the area include gp, dentist, pharmacy, supermarket, primary schools and an ofsted rated outstanding secondary school. Central Ottery provides cafés, restaurants, pubs, and takeaways.
In addition, there are two nearby train stations – Feniton (2.8 miles away) and Whimple (3.1 miles away) and local bus services in the area.
Pricing & affordability


Full Market Value: £370,000

25% Share Price: £92,500 (rent £546.96 pcm)
Minimum 5% Mortgage Deposit (25% share): £4,625
Approximate Service Charges: £45.15 pcm*
Lease: 120 years
Eligibility


Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £80,000
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

** This home can also be purchased outright (100% of the value) which is £370,000 and a purchaser would not need to meet the eligibility criteria listed above.