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This brand new 3 bedroom property is situated at Ferriby Meadows, North Ferriby. On the ground floor the property features a brand new fully-fitted kitchen, living room and downstairs WC. Upstairs features 3 spacious bedrooms and a family bathroom.
The property boasts its own rear garden, solar panels, EV charging and its own double driveway.
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Location:
With a selection of shops, healthcare services and a welcoming local pub, the village provides everything needed for convenient day-to-day living. Located just a short distance from Hull and benefiting from excellent transport links to Leeds, York and beyond, North Ferriby combines countryside charm with outstanding connectivity.
For those who enjoy the outdoors, Long Plantation offers beautiful woodland walks and access to part of the famous Wolds Way, making it an ideal destination for relaxation and recreation.
This property is on the Shared Equity scheme.
This purchaser owns 100% of the home on day one (unlike shared ownership) but they only pay for part of the equity initially. 80% equity is purchased on day one. This is a freehold purchase. No rent is paid.
The purchaser would fund the initial equity amount in the normal way of a deposit and mortgage. The remaining equity is held by Hellens Residential as a second charge for a time period (this is usually repayable on the 10th anniversary after purchase of the initial equity).
The Hellens Residential equity is then repaid at the end of the second charge period or when the purchaser sells the property (the earlier of the two events). The amount repayable to Hellens Residential is interest free and fixed at the initial purchase price. The equity loan needs to repaid in one lump sum.
When it comes to resale, there are no affordable home restrictions on the title. The seller would put their property on the market at full market value. From the sales proceeds received, they would first repay their mortgage, second Hellens Residential and any remaining funds they would retain.