Bartle Meadows, Cottam - 5 Downy Close, Preston

Downy Close , Cottam , Preston , PR4 0PZ

Bartle Meadows, Cottam - 5 Downy Close, Preston

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Available Now

Shared Ownership Scheme

This home is sold through the Shared Ownership Scheme*. The advertised price of £40,000 represents a 25% equity share.

Buyer decides share amount based on affordability, can be any amount from 25% to 75%.

Break down of examples of some of the share amounts available, rent and other costs in addition to your mortgage payment based on full market value of £160,000:

  • 25% share (£40,000) Rent £275.00 pm
  • 50% share (£80,000) Rent £183.33pm
  • 75% share (£120,000) Rent £91.67 pm

A service charge of £40pm

You will need a minimum 5% deposit for mortgage purposes and funds to pay for solicitor fees, moving costs & furnishings.

*Shared ownership provides an affordable way for you to become a home owner, by buying a share in a new home and paying a subsidised rent on the remaining share. You will then have opportunity to purchase further shares in your home in the future up to 100%, which we call "staircasing", as further shares are purchased the rent reduces accordingly.

Specification

This 3 bedroom house on the Bartle Meadows development in Cottam includes the following key features:

  • Solar Panels
  • Terraced House
  • Three Bedrooms
  • Family Bathroom / Downstairs W.C.
  • Lounge
  • Modern Kitchen/Diner With Integrated Appliances
  • Front And Rear Gardens
  • Off Road Allocated Parking For Two Vehicles

Shared Ownership

Buy a share in the home, such as 50%, or 75%, & pay a reduced rent on the remaining share. Buy more shares as and when you can afford them. Visit the Shared Ownership section for more information.

25% Ownership Pricing

Full Property Price Price For Percentage Share Monthly Rent For Share
£160,000.00 £40,000.00 £275.00

40% Ownership Pricing

Full Property Price Price For Percentage Share Monthly Rent For Share
£160,000.00 £64,000.00 £220.00

50% Ownership Pricing

Full Property Price Price For Percentage Share Monthly Rent For Share
£160,000.00 £80,000.00 £183.33

75% Ownership Pricing

Full Property Price Price For Percentage Share Monthly Rent For Share
£160,000.00 £120,000.00 £91.67