Wherrys Lane, Bourne
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More about the property
Aubers house and Ridge house are situated on Wherrys Court, this new development comprises of 20 apartments and 5 three storey town houses. The properties offer modern living within easy access of all the towns’ amenities, finished to a high standard and offering the benefit of designated parking. The properties have a lease term of 125 years with an annual service charge of between £970 and £1335. A communal staircase and lift provide access to all floors for the apartments.
Agents Note:- There is the availability of a discounted market sale price of 20% below market value on Apartments 2, 5 & 8 Aubers House plus Apartment 5 Ridge House to buyers who meet the criteria. Discounted Market Sales (DMS) is a low cost home ownership product where the new build is purchase at a discounted price directly from the developer. The discount usually around 20%, and the scheme is to help low and middle income earners get onto the property ladder.
The discount is written into a covenant on the property and will remain in perpetual through all subsequent sales. Unlike shared ownership, you do not have to pay rent on the remaining share, as there is no remaining share.
A purchaser buys 100% of the property available after the discount (80%) are when the property is sold, it has to be sold at the same percentage of the market value at time of sale.
Applicants will need a mortgage and/or saving to cover the discounted price of the property. For example, if the property has an open market value of £100,000 then the discounted price is £80,000.
Agents Note:- Floorplans and dimensions are taken from architectural drawings and are for guidance only. Dimensions stated are within a tolerance of plus or minus 50mm. Overall dimensions are usually stated and there may be projections into these. Computer generated images are for illustrative purposes and not to scale. Finishes and materials may vary and landscaping is illustrative only. Kitchen layouts are indicative only and may change.