£74,000 /Sale price

*SHARED OWNERSHIP* A two bedroom modern house requiring updating located in the popular village of Veryan on the outskirts of Truro.Full market value £185,000The share purchase price is calculated using the full market value and the percentage share purchased.If you buy a 40% share, the share purchase price will be £74,000 and the rent will be £254.80 a month.Your annual rent is calculated as 2.77% of the remaining share of the full market value owned by the landlord.Please note that the rent is only calculated as a percentage of the retained equity when the lease is granted. All resales properties will have been subject to annual rent increases, which mean that the rent no longer represents a percentage of the retained equity.In addition to the rent above, the monthly payment to the landlord includes:Service charge £0.00Estate charge £0.00Buildings insurance £12.60Management fee £0.00Reserve fund payment £0.00Total monthly payment excluding rent £12.60(these are subject to change during the purchase process)You can apply to buy the home if both of the following apply:your household income is £80,000 or lessyou cannot afford all of the deposit and mortgage payments to buy a home that meets your needsOne of the following must also be true:you're a first-time buyeryou used to own a home but cannot afford to buy one nowyou're forming a new household - for example, after a relationship breakdownyou're an existing shared owner, and you want to moveyou own a home and want to move but cannot afford to buy a new home for your needsIf you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.