1 bed flat for sale

Acorn Gardens, Plymouth, Devon PL7

Shared Ownership

This superb modern home is available to buy from as little as £54,000 with a 40% share!

A well-proportioned one-bedroom first-floor apartment offering approximately 455 sq ft of accommodation, together with one allocated parking space. The property features a spacious open-plan kitchen/reception room extending to over 21 feet in length, providing plenty of room for both living and dining.

The accommodation also includes a generous double bedroom, bathroom and useful built-in storage. French doors from the main living space provide additional natural light, while the allocated parking adds further convenience. The Acorn Gardens development also benefits from communal garden areas.

Situated in the popular Plympton area, the property is particularly convenient for everyday amenities, with Tesco around 0.2 miles away and Lidl approximately 0.3 miles away. Local bus connections are available nearby, while Plymouth city centre and mainline railway station are approximately 3.8 miles away.
Pricing & affordability


Full Market Value: £135,000

40% Share Price: £54,000 (rent £308.05pcm)
Minimum 5% Mortgage Deposit (40% share): £2,700
Approximate Service Charges: £97.32pcm*
Lease: 81 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.