2 bed semi-detached house for sale

Foster Way, Romsey, Hampshire SO51

Shared Ownership

This superb modern home is available to buy from as little as £136,000 with a 40% share!

A beautiful two bedroom semi detached property within this modern development in the quaint town of Romsey. This property provides well proportioned accommodation over two floors comprising entrance hall, living/dining room, kitchen, downstairs WC, two double bedroom and a family bathroom. Outside, there is a private rear garden and two allocated parking spaces.

Romsey is located in Hampshire, not far from the Southampton and Winchester. There are many notable features including the River Test, Romsey Abbey and Broadlands Estate. Independent shops, cafés, and markets give Romsey a quaint, small-town feel. A regular open-air market is held in the town square.
The town is well connected via Romsey Railway Station and various bus routes. Romsey lies within 10 miles of both the M27 (linking the south coast) and the M3 (into London)
Pricing & affordability


Full Market Value: £340,000

40% Share Price: £136,000 (rent £454.51 pcm)
Minimum 5% Mortgage Deposit (40% share): £6,800
Approximate Service Charges: £28.88 pcm*
Lease: 113 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 £340,000 and a purchaser would not need to meet the eligibility criteria listed above.