Slaters Close, Preston

Full description

  ***Reserve this beautiful former show home before 31 May and receive £1000 cashback on completion***

Progress Group are delighted to bring to the market this 3 bed semi-detached home available on a shared ownership basis on the Broughton Park development in the lovely village of Broughton. Buy your own home with a 5% deposit from as little as £2812.50 based on a 25% share of this lovely 3-bed semi-detached house.

***Please note - 25% is the minimum % share however buyers are required to purchase the maximum % share that is affordable for them***

Also available Plot 82 - 3 bed mid terrace, full market value £210,000.

Broughton Park is situated on Whittingham Lane in Broughton, around 4.5 miles north of Preston. The area benefits from great transports links with easy access to the A6, M6, M61, M65 and M55. Public transport links to Preston are excellent giving access to the West Coast rail service serving London and Glasgow.

- 2 double bedrooms and a good sized single

- Contemporary kitchen diner with integrated oven, hob and fridge freezer and French doors to the rear garden

- Private, turfed garden

- Spacious living room

- Downstairs cloakroom

- Floor coverings to kitchen, bathroom and cloaks

- Parking for two cars

- Secure with a refundable deposit of £350

- Shares available from 25% to 75% dependent on affordability

- Full ownership available in the future



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 25% to 75%, depending on what you can afford (please note, buyers are required to purchase the maximum % share that is affordable for them). Progress Housing will own the remaining share, and you pay a reduced rent on that share.

This means that you will need a smaller deposit and mortgage than if you bought a property outright. Generally, you are able to buy a bigger property than you may otherwise be able to afford.

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. Your monthly payments could be less than renting privately.

The current service charge is approx. £26 pcm and is payable for maintenance of any common areas and to cover buildings insurance.

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 manufacturer's guarantee giving you peace of mind.

Progress Group will undertake an initial 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 un-purchased equity.

Price & Rent Calculator - example for a 3 bed semi-detached house with an open market value of £225,000:

25% share price £56,250 and rent of £386.72pcm

40% share price £90,000 and rent of £309.38pcm

50% share price £112,500 and rent of £257.81pcm

75% share price £168,750 and rent of £128.91pcm

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