2 bed semi-detached house for sale

Poltimore Way, West Clyst, Exeter EX1

Shared Ownership

This superb modern home is available to buy from as little as £112,000 with a 40% share!

A well-proportioned two-bedroom house offering approximately 714 sq ft of accommodation arranged over two floors. The ground floor features a spacious diner/living room, separate kitchen and a convenient downstairs WC, while upstairs provides two good-sized bedrooms and a family bathroom.

The property offers a practical layout with a generous 15'7" living/dining room, a separate fitted kitchen and useful downstairs WC. Upstairs, both bedrooms are well proportioned, with the main bedroom measuring approximately 15'7" x 9'1". The property also benefits from its own entrance and a well-planned arrangement throughout. The property also comes with 2 parking spaces.

Situated in Exeter, the property is well placed for access to a range of local amenities, shops and everyday services, with the city centre offering a wider selection of retail, leisure and dining facilities. Exeter also benefits from strong transport links, including rail connections and easy access to the wider road network.
Pricing & affordability


Full Market Value: £280,000

40% Share Price: £112,000 (rent £385.26pcm)
Minimum 5% Mortgage Deposit (40% share): £5,600
Approximate Service Charges: £54.87pcm*
Lease: 117 years
Eligibility


Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

To be eligible for shared ownership you would need to meet the following criteria:

• Applicants must live, work or have family connections to the Easst Devon Disctrict Council region
• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
Local area connection

Please note that applicants for this property must have a local connection to East Devon. Applicants will need to demonstrate that they live or work within East Devon, or have immediate family living within the area.

** This property is also subject to a maximum staircasing restriction of 80%, meaning the purchaser will not be able to staircase to 100% ownership.

** This home can also be purchased outright (100% of the value) which is £280,000 and a purchaser would not need to meet the eligibility criteria listed above.