Fairs Field, Steyning
£150,000

SHARED OWNERSHIP APARTMENT FOR RESIDENTS OVER 55 YEARS OLD. Fairs Field is a modern development built in 2014 in the heart of Steyning with communal gardens and parking. Number 14 is a lovely light and bright first floor flat benefitting from its own private entrance which leads up to a long and wide hallway. The open plan living room is double aspect with a living area leading onto a private balcony and a spacious kitchen area with space for a table and integrated Bosch appliances. The double bedroom has a large, deep wardrobe while across the hall is a bathroom with white suite. The property is in excellent decorative order throughout and has gas fired heating and double glazing. Outside there are communal gardens and the flat has an allocated parking space. £150,000, based on a minimum of 60% share. The apartment is offered to people over the age of 55. Charges include a monthly rent of £253.18 and a monthly service charge of £87.68 for the financial year ending 31 March 2023. A second option of staircasing to 75% is also available whereby the rent is no longer payable on the remaining 25%. Please note that the service charges are still payable and a ground rent at £120 per annum. Am I eligible? Social tenants will be given priority. If your annual household income is more than £80,000 you will not be eligible. You will also need around £2,500 to cover the legal costs of buying a home, plus enough money saved for your deposit - which will be from 10 to 15 per cent of the cost of your share, depending on your mortgage lender. You must not have loans exceeding £15,000 or be in mortgage/rent arrears. You must be able to obtain a mortgage and prove that you can pay your rent and service charges. Remember you will also have to pay household bills including gas, electricity and water. To be considered for Older People's Shared Ownership, you will be required to complete an affordability assessment.