Welcome to Croston Meadow, a contemporary collection of two and three bedroom homes located in Farrington Moss, Leyland. Homes have been set aside specifically for Progress Housing Association who provide affordable homes to those in South Ribble and surrounding areas. These homes will be made available through the popular Government backed Shared Ownership scheme; offering part buy, part rent with a low deposit required, enabling you to step on or stay on the housing ladder. Homes benefit from superb eco features, including new energy efficient boilers and full double-glazing, making them inexpensive to heat and maintain. Each home has light, spacious rooms. Kitchens include modern, fitted units and integrated appliances. There are also eye catching, contemporary bathrooms.
•Ideal for first time buyers and growing families
•Contemporary fitted kitchens with integrated fridge freezer
•Two double bedrooms
•Gardens and off road parking
•Deposits from £3,400
•Available on shared ownership from 40%
•Excellent transport links
•You can purchase outright in the future
• Contemporary Symphony fitted kitchen ranges
• Zanussi electric oven, gas hob and extractor hood
• Integrated fridge freezer
• Spotlights to ceiling and under cabinet down lights
• Polyflor Expona luxury flooring
• Modern white bathroom suite
• Modern Porcelanosa wall tiles
• Chrome heated towel rail
• Polyflor Expona luxury flooring
• Telephone and TV points to the lounge and master bedroom
• TV Cabling provided
• 10 year NHBC New Homes Warranty
• Double glazing
• Turfed rear garden
• Allocated parking
• Smoke and heat detectors
• Gas combi boiler
Shared ownership prices start from £58,000 for a 40% share. Based on this share a rent of £199.38 would be payable. Based on an interest rate of 4% with a mortgage term over 35 years mortgage repayments would be £244*
Full Value £145,000
40% share = £58,000
Deposit minimum 5% = £2,900
Rent = £199.38
Mortgage = £244.00
Total Mortgage and Rent per calendar month = £443.38.
* This figure is for illustration only and will vary dependent on individual circumstances.
Shared Ownership - How It Works And How You Start The Application Process.
Shared Ownership allows you to buy a share in a new home, ranging from 40% to 75%, depending on what you can afford. Progress Housing will own the remaining share, and you pay a reduced rent on that share.
This means that you will need a smaller mortgage to buy the property, and will also need a smaller deposit. You can buy more shares as and when you can afford them - this is called Staircasing - and as you buy more shares, you will pay less rent. You can eventually own 100% of the property if you want to, at which point you will pay no rent at all.
A service charge of £30.00pcm is payable for maintenance of any common areas and to cover buildings insurance. (this is to be confirmed)
As a home owner, you will be responsible for the maintenance and repairs on your home. However as it is a new build your property comes with a 10 year NHBC guarantee and many of the appliances will have a 2 year manufacturers guarantee giving you peace of mind.
You can apply to buy one of these homes by filling in an online application form on the Help to Buy North West website where the properties are listed. www.helptobuynw.org.uk
Progress Housing will undertake an affordability assessment with you and can provide details of Independent Financial Advisors who can assist with obtaining a mortgage.
Detailed below is an indication of the price of various shares and the rent payable on the unpurchased equity.
Price & Rent Calculator – 2 bed end mews £145,000 -
40% share price £58,000 and rent of £199.38pcm
50% share price £72,500 and rent of £166.15pcm
60% share price £87,000 and rent of £132.92pcm
75% share price £108,750 and rent of £83.07pcm
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