How to Apply

Click here for a step by step guide on the application process.

Please complete this online form to apply as a potential buyer for 12A or 16 The Orchard, Modbury.

Please check your personal circumstances against the following statements then submit the form.

Eligibility Questionnaire & Application Form

Please answer the following questions as an individual if you are a single purchaser, or together if you and your partner are joint purchasers.

Are you (and your partner if applicable) UK/EU Citizens and/or is your passport stamped with indefinite leave to remain in the country?

   Yes     No

Do you (or your partner if applicable) have access to, or will you be able to raise at least £2,500 to cover the cost of buying a property (ie. legal fees, surveys, etc)?

   Yes     No

Have you (and your partner if applicable) always kept up repayments on any loan or form of credit agreement?

   Yes     No

Are you free of any County Court Judgements that may have been registered against you within the last three years?

   Yes     No

Is your current household income less than £60,000 per annum?

   Yes     No

Do you (and your partner if applicable) have current debts of less than £15,000 (not including student loans)?

   Yes     No

Are you (and your partner if applicable) resident or working within the District of South Hams, or will be immediately before occupation of your new home?

   Yes     No

Do you (or your partner if applicable) have a strong local connection with the District e.g. family association in the District, any periods of ordinary residence or had accepted offers of employment in the District?

   Yes     No

INCOME
If you are borrowing 97% of the value of the share as a mortgage it is likely, subject to status, that you will need a minimum joint income of £25,000 (single income £21,428) to purchase a 1 bedroom apartment and a minimum joint income of £30,000 (single income £25,714) to purchase the 2 bedroom apartment. These income requirements will reduce the larger the deposit paid and the smaller the mortgage required.
I/We satisfy the income requirements as detailed above

   Yes     No

DEPOSIT
Most mortgage lenders will lend up to 97% (subject to status) of the value of the share you are buying. You will, therefore, need to have access to/ can raise the 3% difference for the deposit (e.g. share purchased is 60% of £125,000, that is £75,000. Mortgage is 97% of £75,000 i.e. £72,750. You will need to raise a minimum of £2,259 for the deposit). The larger the deposit, the less you will need to borrow as a mortgage.
I/We can raise the necessary deposit as detailed above

   Yes     No

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