3 bed semi-detached house for sale

Finch Road, Burscough L40

Shared ownership


Stepping into your new home is one of the best and most exciting achievements in your life and Shared Ownership makes that ambition possible. You initially purchase a part share in a home through a mortgage and savings. You only need to buy as much as you can afford, usually a minimum of 25% or 35% and up to a maximum of 75%, and you pay a subsidised rent to us on the share that you don't own. The great thing about Shared Ownership is that you can buy a larger share of the property whenever you can afford it. The more you own, the less rent you pay. What's more, you can get started with a smaller deposit, because its calculated on the value of the share you buy. Shared Ownership provides you with the perfect opportunity to get your feet onto the property ladder. Even though you are only purchasing a share, it will definitely feel like your own home since you are free to decorate and personalise it to your own taste.

Below we've listed some of the main qualifying criteria around your eligibility:

* Your household income is £80,000 a year or less
* You cannot afford all the deposit and mortgage payments for a home that meets your needs
* You're a first-time buyer or * You used to own a home, but cannot afford to buy one now or
* You own a home and want to move but cannot afford a new home suitable for your needs or * You're forming a new household - for example, after a relationship breakdown or
* You're an existing shared owner and want to move

This house is available to be purchased through Shared Ownership and below are some sample figures and available shares. Other combinations are available to suit your needs.

Full Marker Value £250,000 Estate charge £12.56pcm, building insurance 47.34pcm and Management fee is £4.37.

10% share at £25,000, Shared Ownership rent £515.63pcm
25% share at £62,500, Shared Ownership rent £429.69pcm
35% share at £75,000, Shared Ownership rent £401.04pcm
40% share at £100,000, Shared Ownership rent £343.75pcm
50% share at £125,000, Shared Ownership rent £286.46pcm
60% share at £150,000, Shared Ownership rent £229.17pcm
70% share at £175,000, Shared Ownership rent at £171.88pcm
75% share at £187,500, Shared Ownership rent at £143.23pcm

Call/email us for more information or to arrange a viewing.