2 bed terraced house for sale

Hubbards Loke, Norwich NR9

***50% shared ownership opportunity*** Iconic estate agents are delighted to offer for sale this well-presented shared ownership terrace property in this sought after Lenwade position. The property is offered on a 50% share basis and offers accommodation which comprises; spacious entrance hall, cloakroom, kitchen, stairs raising to the first floor and a 15ft lounge/diner with French doors to the rear garden. Upstairs offers two double bedrooms off the landing both with fitted wardrobes and a separate white three-piece family bathroom suite. Outside the property benefits from two parking spaces to the front while to the rear there is a low maintenance enclosed sunny garden which is mainly paved. The property is positioned on a modern development which boasts ample outside space and is within walking distance to the Village Hall, shops, local amenities and is on a bus route. £105,000 is a 50% share and a rent of £275.86 per month is paid in addition to the mortgage, this fee also includes the service charges and buildings insurance and the property is on a lease of 99 years from 2014. With shared ownership, you buy an initial % of the open market value and then you pay a reduced rent on the share that you do not own. There is potential to increase your share in the future through a process called staircasing with the rent adjusted to reflect this. In some cases, you may be entitled to purchase a higher percentage, although some restrictions do apply.
All buyers must be eligible so to apply for a shared ownership home; you first will need to register with the local help to buy agent.
You must meet the following criteria:
Annual income of less than £80,000
Unable to purchase a suitable home for your needs without assistance
Not a current Home Owner (or named on the deeds of another property) in the Uk or abroad
No outstanding credit issues (i.e unsatisfied defaults or ccjs)