Baltic Way, Totnes

SITUATION

Baltic Wharf is a prestigious waterside development set in an enviable location, within easy walking distance of Totnes town centre. Providing excellent access to the beautiful River Dart, stunning countryside walks, the breath taking Sharpham Estate and the Paddington to Penzance mainline railway station. The unique and charming market town of Totnes sits above the river Dart in the heart of the South Hams. The town is one of Devon's gems, the birthplace of the Transition Town movement in England and nominated in British Airways' High Life magazine as one of the world's top ten funky towns. Full of colour and character, its atmosphere is cosmopolitan with a West Country flavour and those looking for history, alternative therapies and beautiful countryside will find it in and around Totnes. The town is said to have more listed buildings per head of the population than anywhere else in Britain. With a twice-a-week market and full of small independent shops, it's well known for ethical products, wholefoods and fair trade goods. It is the second oldest borough in England, with an ancient Guildhall and Church, a Norman Castle and its North and East Gates. There is a well-regarded community college and Dartmoor, the South Hams and many of its fine beaches are within easy reach.

1. How shared ownership works
2. 1.1 You pay for a percentage share of the market value of a home. You enter into a lease
3. agreement with the landlord and agree to pay rent to the landlord on the remaining share.
4. 1.2 You can buy more shares in your home, which is known as ‘staircasing’. This is covered in
5. section 6, ‘Buying more shares’.
6. 1.3 When you buy more shares in your home, the rent you pay goes down in proportion to the
7. landlord's remaining share.
8. 1.4 You can rent out a room in the home, but you must live there at the same time.
9. 1.5 You cannot sublet (rent out) your entire home unless you either:
10. • own a 100% share; or
11. • have your landlord's permission which they will only give in exceptional circumstances
12. and
13. • have your mortgage lender’s permission if you have a mortgage
14. An example of an exceptional circumstance for sub-letting is if you're a serving member of
15. the armed forces, and you're required to serve away from the area where you live for a fixed period.
    If you buy a 40% share, the share purchase price will be £186,000 and
    the rent will be £446.90 (as of April 2024) a month.
    Your annual rent is calculated as 1.92% of the remaining share of the
    full market value owned by the landlord.
    All figures are subject to change.