Acorn Gardens, Plymouth, Devon, PL7 4NJ

Shared Ownership

This superb home is available to buy from as little as £50,000 with a 40% share!

A well-presented one-bedroom ground-floor apartment offering approximately 462 sq ft of accommodation, situated within Acorn Gardens in Plympton, Plymouth. The property benefits from a parking space and a practical, modern layout with a particularly generous open-plan living area.

The accommodation comprises an impressive 21ft open-plan kitchen/reception room, providing plenty of space for both living and dining. There is also a well-proportioned double bedroom with built-in storage, a bathroom and additional useful storage off the hallway.

The property is conveniently positioned for the amenities of Plympton, including local shops, supermarkets and everyday services. There are good road connections towards Plymouth city centre and the A38, providing access across the wider South Devon area.

PRICING & AFFORDABILITY

Full Market Value: £125,000

40% Share Price: £50,000 (rent £295.96pcm) Minimum 5% Mortgage Deposit (30% share): £2,500 Approximate Service Charges: £97.32pcm* Lease: 169 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.