Rush Meadow Road, Cranbrook, Exeter, EX5

A fabulous, modern end-terrace, shared ownership family home with three bedrooms, parking and an enclosed rear garden, in the town of Cranbrook with excellent road and rail links to the city of Exeter.

A paved path leads through the front garden, with wrought-iron railings to the entrance, sheltered beneath a storm porch. Inside, it is well-presented with light and neutral decor throughout and feels warm and welcoming with community central heating.

The entrance hallway which continues throughout the ground floor, storage space for coats and shoes, a carpeted staircase rising to the first floor with a storage area and a cupboard beneath, and a convenient ground floor cloakroom with a WC and basin.

A good-sized kitchen/breakfast room has plenty of light from a window to the front with a modern fitted kitchen that has wood-effect worktops on two sides and a breakfast bar, ideal for casual dining, and a range of grey fitted units with matching wall cabinets providing cupboard space. There is a stainless-steel sink and mixer tap, a built-in fan-oven with a ceramic hob, a stainless-steel splashback and extractor hood above, and space with plumbing beneath the worktop for a washing machine and dishwasher. The heat exchanger for the community central heating and hot water system is hidden within a matching cabinet.

A spacious living dining room has plenty of light from window and a half-glazed door to the rear garden, also having plenty of room for a dining table and seating, ideal for any occasion.

Upstairs, with a master bedroom that is a spacious double filled with light from two windows to the front. There are two further bedrooms, both light and airy, a double and a single. The family bathroom has a white suite comprising a bath with a shower and glass screen above, a pedestal basin and a WC with matching tiling above the bath and basin. The landing has an airing cupboard with a tubular space heater and slatted shelving for linen and a hatch in the landing ceiling provides access to the loft space where there is additional light storage.

Outside, the rear garden is a good size and fully enclosed making it safe for both children and pets. Great for entertaining, there is a paved patio and two terraces of composite decking perfect for a barbecue, alfresco dining or sharing a bottle of wine with friends and family. A gate to the rear leads to a parking area where there are two allocated spaces.

Please note: This is a shared ownership property, purchasing a 25% share at £70,000. Full value £280,000.

The share purchase price is calculated using the full market value and the percentage share purchased.
If you buy a 25% share, the share purchase price will be £70,000 and the rent will be £440.71 (as of April 2024) a month.
All figures are subject to change.

Monthly payment to the landlord

In addition to the rent above, the monthly payment to the landlord includes:

Service charge £4.56
Buildings insurance £13.89
Total monthly payment excluding rent £18.45
(these are subject to change during the purchase process)

Reservation fee
£500.00

You'll need to pay a reservation fee to secure your home. When you pay the fee, no one else will be able to reserve the home.
If you complete on the purchase of your home, the reservation fee will be added to your rent account. If you or the seller withdraw from the sale the £500 will be refunded.

Eligibility

You can apply to buy the home if both of the following apply:

• your household income is £80,000 or less
• you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs
One of the following must also be true:
• you're a first-time buyer
• you used to own a home but cannot afford to buy one now
• you're forming a new household - for example, after a relationship breakdown
• you're an existing shared owner, and you want to move
• you own a home and want to move but cannot afford to buy a new home for your needs
If 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.

Tenure

Leasehold - Lease type - Shared ownership house lease
Lease term -125 years from and including 1 March 2019

Maximum share you can own - You can buy up to 100% of your home.
Transfer of freehold - At 100% ownership, the freehold will transfer to you.