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"*SHARED OWNERSHIP*
A two bedroom modern house requiring updating located in the popular village of Veryan on the outskirts of Truro.

Full market value £185,000
The share purchase price is calculated using the full market value and the percentage share purchased.
If you buy a 40% share, the share purchase price will be £74,000 and the rent will be £254.80 a month.
Your annual rent is calculated as 2.77% of the remaining share of the full market value owned by the landlord.
Please note that the rent is only calculated as a percentage of the retained equity when the lease is granted. All resales properties will have been subject to annual rent increases, which mean that the rent no longer represents a percentage of the retained equity.

In addition to the rent above, the monthly payment to the landlord includes
Service charge £0.00
Estate charge £0.00
Buildings insurance £12.60
Management fee £0.00
Reserve fund payment £0.00
Total monthly payment excluding rent £12.60
these are subject to change during the purchase process

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.

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