3 bed terraced house for sale

Padley Close, Chipping Norton OX7

Shared ownership (Advertised price represents 45% share. Full market value £400,000). A great chance to buy a three-bedroom, shared-ownership family home. The recently-constructed and smartly-presented property forms one end of a four-house terrace. The reception room leads through to a spacious kitchen/dining room. There is a separate utility area off to one side with access to a cloakroom/WC. Upstairs, on the first floor, are two generously-sized double bedrooms plus a smaller third bedroom and a naturally-lit bathroom with marble-style tiles. Well insulated walls, roof and floor, high performance glazing and a modern gas central heating system all contribute towards a very good energy-efficiency rating. To the rear of the house is a neatly-kept west/south-west-facing garden with patio, lawn, timber shed and decked seating area while to the front are two parking spaces. Padley Close is just off Banbury Road and within comfortable walking distance, or brief cycle ride, of Chipping Norton's attractive town centre.

Interested parties are required to complete the shared ownership common application form [ ]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Clarion.
Tenure: Leasehold (125 years from 25/03/2020). Freehold transferred on 100% ownership.
Minimum Share: 45% (£180,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £556.42 per month (subject to annual review).
Service Charge: £16.57 per month (subject to annual review).
Guideline Minimum Income: Dual - £50,000 | Single - £57,300 (based on minimum share and 10% deposit).
Council Tax: Band D, West Oxfordshire District Council. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone.

What is shared ownership ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (gla) in London and Homes England outside of London.

Is shared ownership for you ?

The gla and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or eea Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.

Reception Room

14' 4" max. X 12' 2" max. (4.36m x 3.72m)

Kitchen / Dining Room

13' 9" x 11' 11" (4.20m x 3.62m)

Utility Area

5' 6" x 3' 5" (1.67m x 1.05m)

Bedroom 1

12' 9" x 9' 3" max. (3.88m x 2.81m)

Bedroom 2

15' 5" x 7' 4" min. (4.71m x 2.23m)

Bedroom 3

11' 10" max. X 8' 0" max. (3.61m x 2.45m)

Bathroom

9' 1" max. X 6' 4" max. (2.78m x 1.93m)