2 bed terraced house for sale

Falcon Road, Plymouth, Devon PL1

Shared Ownership

This superb modern home is available to buy from as little as £98,000 with a 40% share!

Located within the Devonport area of Plymouth is this two bedroom mid terrace home. The property provides bright and well-presented accommodation featuring a 30ft open plan kitchen/dining/living space on the ground floor and a downstairs WC. Upstairs, there are two large double bedrooms, an en-suite shower room and a family bathroom. Outside, there is one allocated parking space and a low maintenance courtyard garden at the rear.

Devonport, Plymouth was originally founded as Plymouth Dock and provides a well rounded variety of local amenities and services - cafés, traditional fish & chip shops, bars, supermarkets (including Lidl and Tesco Express), pharmacies, gyms, community centres, and a library. The area boasts excellent transport links—frequent train services, ferry crossings to Cornwall, easy access to Plymouth city centre, and bus routes. Devonport is approximately 1.5 miles from Plymouth City Centre where Great Western Railway operate services to London in just under 3 hours.
Pricing & affordability


Full Market Value: £245,000

40% Share Price: £98,000 (rent £381.71 pcm)
Minimum 5% Mortgage Deposit (40% share): £4,900
Approximate Service Charges: £53.84 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 £245,000 and a purchaser would not need to meet the eligibility criteria listed above.