- Shared Ownership Homes
- Edge Of Dartmouth
- Close To Park And Ride
- Gas Central Heating
- Double Glazing
- Open Plan Kitchen/Diner
- Three Stories
Property Description: SITUATION
Little Cotton Farm is a new community of one, two and three bedroom homes situated on the outskirts of the beautiful town of Dartmouth and nearby South Devon's Area of Outstanding Natural Beauty.
Located nearby beaches, excellent harbours and panoramic walks along the riverside, seaside and countryside, residents will be perfectly positioned to enjoy the best of nature and the excellent amenities which Dartmouth has to offer.
An array of pubs, bistros, excellent schools and a local Sainsbury's are all very nearby. A short walk away from the development is also Dartmouth Leisure Centre, equipped with regular gym activities and an indoor swimming pool.
Homes at Little Cotton Farm will be ready to move into from Summer 2021 AFFORDABILITY & ELIGIBILITY
To be eligible for a home at Little Cotton Farm, you'll need to:
Have a local connection by living or working in Dartmouth or parish of Stoke Fleming.
Have a gross household income of no more than £80,000 per annum.
Be unable to purchase a suitable home to meet your housing needs on the open market.
Not already own a home or you will have sold your current home before you purchase.
To gain further information on these requirements please speak with one of our agents. As part of the application process to purchase a Shared Ownership home, customers will be required to have an initial financial assessment with an Independent Financial Advisor, this is free of charge. WHAT IS SHARED OWNERSHIP
If you can't afford the mortgage on 100% of a home, Shared Ownership offers you the chance to buy a share of your home (between 30% and 50%) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to and, if you chose, own the property outright. Monthly costs to purchase via Shared Ownership are generally less than purchasing outright or renting, making it a fantastic option to get onto the housing ladder. FINANCIAL BREAKDOWN
100% Property value = £335,000
50% Share Value = £167,000
5% deposit Required = £8,375
Monthly Rent on Unowned Equity = £383
Service Charge & Fees PCM = £55
30% Share Value = £100,500
5% Deposit Required = £5,025
Monthly Rent on Unowned Equity = £537