Northfield Lane by Legal & General Affordable Homes in Barnstaple

Shared Ownership 2 & 4 Bedroom Houses in North Devon

Located in the bustling medieval town of Barnstaple, this new development of affordable homes presents an excellent opportunity to step onto the property ladder in this desirable area.

Each home has been designed in a clean, contemporary style, perfectly balancing form and function – and built to handle the rigours of busy households for years to come. The houses feature a contemporary Symphony kitchen fitted with the latest A-rated appliances, spacious and luminous bedrooms as well as a rear garden and patio area. Outside, the property benefits from two parking bays.

Shared Ownership at Northfield Lane represents a chance to enjoy the security and stability of owning your own home, at a cost that suits your pocket.

Key features:
• Integrated hob and oven
• Turf to rear garden
• Paved patio area
• Allocated parking for two cars
• NHBC 12 year warranty

Price breakdown:
Minimum share: 40%
Minimum share value: £90,000 - £118,000
Full market value: £225,000 - £295,000
Estate service charge per year: £462
Monthly rent on un-owned share: £309 - £406

What is Shared Ownership?
Shared Ownership is a more affordable way to have the security and stability of owning your own home. Shared Ownership is a government backed part buy/part rent scheme designed to help you take that first step on the property ladder. The scheme enables buyers to purchase a share of the value of the home – this is usually between 25 to 75 percent of the value of the property – and pay a subsidised rent on the remaining portion. You have the option to buy a bigger share in the property at a later date (known as Staircasing).*

Eligibility criteria:
To be eligible for a home at Northfield Lane, you’ll need to:

• 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

If you don’t meet the eligibility criteria for this development, you may still qualify for a shared ownership purchase at one of our others, so take a look at our website for more information.

The images shown are indicative and intended to act as a guide only.