Leasehold Information: 125 years from 1 February 2013
Service Charge: £9.11 a month
Buildings Insurance: £12.42 a month
Rent: £357.65 a month
Review Date: Rent and service charge is reviewed annually in April
Share Available to Purchase: 25%
To assess your eligibility, you'll need to register with a Help to Buy agent.
You can apply to buy the home if both of the following apply:
- your household income is £80,000 or less
- you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs
One of the following must also be true:
- you're a first-time buyer
- you used to own a home but cannot afford to buy one now
- you're forming a new household - for example, after a relationship breakdown
- you're an existing shared owner, and you want to move
- you own a home and want to move but cannot afford to buy a new home for your needs
If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.
As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.
LOCAL CONNECTION CRITERIA
An eligible person means a person who is in need of Affordable Housing and who has a strong location connection with the administrative area of East Devon District Council or Exeter City Council (priority will be given to applicants with a local connection to the East Devon District) and who satisfies one or more of the following criteria .
- The person is currently resident in the area
- The person is currently employed in the area
- The person needs to live in the area to take up firmly committed employment
- The person has close family living in the area (i.e. mother, father, daughter, son, sister, brother).
- The person has been resident in the area for at least five of the last ten years.
This information has been taken from the Section 106 Agreement which is a planning condition.
REFERRAL FEE DISCLOSURE
We recommend sellers and/or potential buyers use the services of The Mortgage Quarter. Should you decide to use the services of The Mortgage Quarter you should know that we would expect to receive a referral fee of £200 from them for recommending you to them. You are not under any obligation to use the services and can seek alternative providers of these services. Further information is available on our web site.