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"Brand new 2 bed semi detached shared ownership home situated at "The Orchards" Hildersley, located within walking distance to Ross on Wye town.

The property comprises of open plan lounge kitchen diner, WC, 2 bedrooms, bathroom, storage cupboards. The property also benefits from 1 allocated parking space, enclosed rear garden, GCH and double glazing.

Shared Ownership Information Shared ownership is a part buy part rent property from a registered landlord

Open Market Value £220,000
40% Shared Ownership £88,000
Rent £302.50pcm
Service Charge £15.71pcm
Estate charge £10.76pcm
Buildings insurance per month £8.81pcm

The more you buy the lower your rent will be. Rent is calculated at 2.75% of the unowned share. These costs will increase each year with inflation.

You must have a local connection to Herefordshire and be in housing need

Affordability checks will be carried out prior to viewing

Entrance Hall Stairs to first floor landing, door into

Kitchen Diner Fitted kitchen with range of wall and base units, stainless steel sink with mixer tap, space for washing machine and fridge freezer. Electric oven with gas hob with hood over. Window to front elevation and door to WC and rear garden

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First Floor Landing Doors to bedrooms and bathroom

Bedroom One Two windows to front elevation and storage cupboard

Bedroom Two Window

Bathroom White bathroom suite with shower over bath, low level WC and wash hand basin.

External Enclosed rear garden with rear access. Allocated parking.

Services All mains services are connected.

How Does Shared Ownership Work? If you bought a home on the open market, you would agree a purchase price through an estate agent. Then you would take out a mortgage to cover the total purchase price of the property minus any deposit you might have available.
With Shared Ownership, the price of the property is fixed at the open market value, as assessed by a qualified valuer. You borrow just enough to cover the share you are buying. This is referred to as equity share.

The equity share amount will be an amount that you can afford, as set out under government guidelines. The total monthly cost of the rent, plus your
mortgage, will be lower than the monthly cost if you bought the property outright with a mortgage.

For legal reasons, while you are only buying a part share of the property, you will have a leasehold interest of 125 years where the scheme allows. However, you may buy further shares. This is called staircasing , and may eventually progress to outright ownership.

Eligibility Criteria To be eligible for Shared Ownership you need to

be a first time buyer, an existing shared ownership homeowner, or a former homeowner who can t afford to get a mortgage for 100% of the property
be over 18 years old
have an annual household income of less than £80,000 £90,000 in London .

If you wish to buy one of these properties we need to assess your eligibility for shared ownership. For this we need to see

Proof of ID
Proof of address
Mortgage in principle
Proof of deposit
Full details for each buyer

You will also be required to complete an application form and an affordability calculation.

Artists Impressions All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale.

Two Rivers Housing TwoCan estate agents are advertising this property on behalf of Two Rivers Housing. Two Rivers Housing are the owners of Twocan and the Centigen brand.

Disclaimer All measurements are approximate. We have not checked the serviceability of any appliances, fixtures or utilities i.e. water, electricity, gas which may be included in the sale. We cannot guarantee building regulations or planning permission has been approved and all prospective purchasers should satisfy themselves on these points prior to entering into a contract. Consumer Protection from Unfair Trading Regulations 2008. The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.

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