Available to purchase on a part buy, part rent basis. This brand new two bedroom house, which is finished to a high standard throughout, is situated within the popular Oak Park development. Built to a high standard by Taylor Wimpey, the property is now being sold to eligible purchasers by Vivid Housing Association via Homes Estate Agents in Liphook.
Each new home benefits from full fixtures and fittings and neutral décor throughout with the bonus of 2 allocated parking spaces. Liphook village provides shops, pubs, cafes, golf courses and restaurants as well as doctors, dentists and Sainsburys and Co Op supermarkets. More facilities can be found in nearby towns such as Haslemere, Petersfield and Farnham. Liphook mainline station provides access to London and Portsmouth whilst the A3 nearby provides good links both north and south.
What is part buy, part rent?
Think of the scheme as a helping hand to get onto the property ladder. You buy a share in the property, and rent the rest from the housing association. This means that you have a mortgage (or buy with cash) for the share that you own, and you pay rent on the value of the property you don't. Most properties allow you to staircase (buy more of a share) in the property in the future quite easily - so you could own your property outright, depending on your financial circumstances, in the future!
Part buy, part rent isn't just for first time buyers! Everyone is welcome to apply, as long as you don't own another property and earn no more than £80,000*
*Please note limits may vary depending on the size of the property. If you own another property, you are welcome to apply, as long as your home is sold subject to contract.
How much will you have to buy?
You have to buy (get a mortgage for) at least the advertised share in the property. The exact amount you buy will be based on your monthly income, outgoings and deposit. This is decided by the panel financial advisor. They use a special income test to make sure you can afford to purchase and live comfortably. The shares you do not purchase, will have to be rented from Vivid. The fee / rent for these shares are paid monthly to Vivid.
There are eligibility conditions for Vivid Homes. Shared Ownership is a government product that is there to help people purchase a home of their own. It is only there for those people who can't afford to do it on their own through the traditional mortgage route.
The team at Homes Estate Agents are happy to help with initial enquries and assistance and we look forward to speaking with you soon.
Please note: Images of the property are taken from a similar property, previously sold, elsewhere on the Oak Park development.