St. Mary's Gate - Tixall Road, Stafford
A fantastic release of 2 and 3 Bedroom new build homes on Tixall Road, Stafford.
Located alongside open fields and built by David Wilson, St Mary’s Gate is only a mile and a half from Stafford town centre. Each home has been thoughtfully designed to respond to the demands of modern living, in a location you'll love.
DB Roberts are delighted to offer this opportunity exclusively with Staffordshire Housing Association, to those buyers that qualify for the Shared Ownership Scheme.
What does ‘Shared Ownership mean?’
Shared Ownership: The part‐buy part‐rent way to own your own home.
So, if you want to buy a home but worry that you can’t quite afford to, the shared ownership scheme can help you get onto the property ladder. With shared ownership you buy a 50% share in the value of a property, usually with a mortgage. You pay rent to SHA for the remaining 50% share. The rent is subsidised by government funding to make it affordable.
Am I eligible for shared ownership?
The scheme aims to help
- first time buyers;
- local authority tenants;
- housing association tenants;
- job movers who need to move to another area for their work;
- people needing a new home following relationship breakdown; and older people who have some money but not enough to buy outright on the open market.
There may be other criteria which affects your eligibility. We will check this and discuss it with you when you make an application.
What costs are involved?
When buying a shared ownership home, you need to allow for
- paying your first month’s rent in advance;
- paying solicitors’ costs (solicitors’ costs vary, so it’s sensible to shop around); and
- mortgage costs, including administration fees, booking fees and valuation fees (fees vary between lenders).
- Remember that some banks and building societies may ask for a deposit (typically 5% of the purchase price). We strongly advise that you save, if necessary, to cover this cost.
What do I do next?
Call DB Roberts on 01785 255800 to make an appointment in order to complete the affordability assessment and more about this great opportunity or email us.