22 Preston Close

Property overview

This well-proportioned two-bedroom home offers practical accommodation arranged over two floors.

The ground floor opens into an entrance lobby leading through to a spacious lounge. To the rear is a separate kitchen and dining area, providing space for everyday dining and direct access towards the rear of the property. A downstairs Wc and useful built-in storage complete the ground-floor accommodation.

Upstairs are two well-proportioned bedrooms, including a generous principal bedroom, together with the family bathroom. Further built-in storage is provided from both the landing and principal bedroom.

The property is leasehold with approximately 121 years remaining. Shared owners can staircase to 100% ownership, at which point the freehold will be transferred to the owner.

Financial breakdown

• Full Market Value: £240,000
• 40% Share Value: £96,000
• Rent on Unowned Share: £374.99 per month
• Estate Charge: £19.91 per month
• Buildings Insurance: £17.44 per month
• Management Fee: £34.89 per month
• Service Charge: £0.00
• Reserve Fund Payment: £0.00
• Total Monthly Payment (excluding rent): £72.24
• Lease Length: Approximately 121 years remaining

Larger shares may also be purchased subject to affordability assessment. For example, a 50% share is £120,000 with monthly rent of £312.00, while a 75% share is £180,000 with monthly rent of £156.00.

What is Shared Ownership?

Shared Ownership offers you the chance to buy a share of your home (usually between 25% and 75%) and pay rent on the remaining share. Later on, you could buy more shares of your new home when you can afford to and, if you chose, own the property outright. Monthly costs to purchase a home via Shared Ownership are generally less than purchasing outright or renting, making it a fantastic option to get onto the housing ladder.

Eligibility criteria

To be eligible for a home here you’ll need to

• Have a combined household income under £80,000 per annum
• Not already own a property, or part of a property, at the time of completing on your purchase
• Be unable to purchase a suitable home to meet your housing needs on the open market

If you don’t meet the eligibility criteria for this development, you may still qualify for a shared ownership purchase at one of our others.

Shared Ownership disclaimer

Shared Ownership eligibility criteria applies. Images are indicative only. Council tax bands are often not released until the property is complete. If you need any guidance, please get in touch with our sales consultants.

Local area

Wigston is a popular residential area to the south of Leicester, offering a good range of everyday amenities, shops, supermarkets, schools and leisure facilities.

The area is well placed for access into Leicester city centre and the surrounding Leicestershire countryside, with road connections providing convenient access to neighbouring towns and employment areas.

Wigston railway station also provides rail connections towards Leicester and surrounding destinations, making the location suitable for commuters as well as those looking for an established residential setting.