3 bed property for sale

Hobby Way, Brayton, Selby YO8

The well presented modern Persimmon built property is part of a shared ownership scheme in partnership with 'Heylo'. The purchase price will acquire 50% share of the property.

Property Info:

How shared ownership works:
1. You pay for a percentage share of the market value of a home. You enter into a lease agreement with the landlord, and agree to pay rent to the landlord on the remaining share.

2 You can buy more shares in your home, which is known as ‘staircasing’. This is covered in section 6, ‘Buying more shares’.

3 When you buy more shares in your home, the rent you pay goes down in proportion to the landlord’s remaining share.

4. You can rent out a room in the home at any time, but you must live there at the same time.

5. You cannot sublet (rent out) your entire home unless either:
(i) You own a 100% share
(ii) You have your landlord’s permission, which they only give in exceptional circumstances

6. If you’re a serving member of the armed forces, and you’re required to serve away from the area where you live for a fixed period, you may sublet the entire home subject to the landlord’s permission.

7. Monthly Rent of 50% ownership £306.27

Buyer Criteria:

Key criteria are:
Buyers must be at least 18 years old
Buyers must have a total household income under £80,000 (£90,000 in London)
Buyers must meet the Homes England affordability and sustainability assessments (see the Homes England calculator guidance for further information)
Buyers are expected to use any savings and assets towards the purchase of their home. This may mean selling assets such as bonds, shares, land and any other financial investments.
Buyers in receipt of benefits are eligible for shared ownership provided they meet the Homes England affordability assessment (not all benefits are eligible). Self-employed buyers must be able to provide 2-years evidence of their income