Terraced house for sale in Hay Crescent, Launceston, Cornwall PL15

Getting you on the property ladder with just a 5% Deposit of just £4,300 at Hay Common, Launceston with this stunning collection of Two-Bedroom new shared ownership homes all with parking and gardens. No annoying build delays all these homes are ready for occupation now – imagine spending Christmas in your first home or even your next home.

The Newmill – Two-Bedroom Terraced Home Full Market Value £215,000 which, is available to purchase from a 10% to 75% share. Price shown is for a 40% share at £86,000 with a deposit of £4,300. Further examples of purchasing available upon request from our qualified team.

Situated on the sought after Hay Common development in Launceston, these Energy Efficient Homes have low running costs and are heated by air source heat pumps.

Key features:

• Modern Open Plan Living
• Two Double Bedrooms
• Air Source Heating
• Parking
• Flooring to kitchen/diner, cloakroom & bathroom
• Ready Now
• Paved patio area & turfed garden
• New Homes Warranty

Prospective purchasers will need to go through the relevant qualifying process, please contact us for more information.

What is Shared Ownership?

If you can't afford the mortgage on 100% of a home, Shared Ownership offers you the chance to buy a share of your home (between 10% and 75%) and pay rent on the remaining share. Later, you could buy bigger shares when you can afford to and, if you chose, own the property outright.

In addition, you need to be 18 years or over and your joint annual household income must not exceeed £80,000. Also, you cannot own another home but, you can sell a home to step into a shared ownership home.

Monthly costs to purchase via Shared Ownership are generally less than purchasing outright or renting, making it a fantastic option to get onto the housing ladder.

Financial Breakdown:

Full market value: £215,000
40% share value £86,000
5% deposit: £4,300
Rent charged on un-owned share: 2.5%
Rent on un-owned share (60%) £268.75 monthly
Estimated monthly service charge: £31.02 monthly

Agents Notes

Currently there is no collection of the estate management charge which, forms part of the monthly service charge. The estate management charge has been estimated to be £200 per annum currently. The monthly service charge also includes building insurance but excludes contents insurance.

Prospective purchasers will need to go through the relevant qualifying process, please contact us for more information. Please note, images have been used for illustrative purposes only. Specification, layout, and finish may be subject to change.