2 bedroom apartment for sale
Oxlip House, Airfield Road, IP32 7RH
Share percentage 75%, full price £220,000, £8,250 Min Deposit.
Share percentage 75%, full price £220,000, £8,250 Min Deposit
Monthly Cost: £919
Mortgage £919*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
You may be eligible for this property if:
- You are 55 or over.
- You have a gross household income of no more than £80,000 per annum.
- You are unable to purchase a suitable home to meet your housing needs on the open market.
- You do not already own a home or you will have sold your current home before you purchase or rent.
Summary
Two Bedroom Retirement Apartment in Bury St Edmunds available to purchase through the Shared Ownership scheme
Description
The property boasts a number of key features such as entrance hall, sitting room, kitchen, cloakroom, two bedrooms and en-suite wet room/bathroom.
Externally, there are communal gardens and a communal car parking area to the rear.
Oxlip House is host to a variety of amenities including a hair salon*, treatment room*, resident shop, scooter store, guest room*, lounge, cinema room, library, laundry room, cafe* and sun terrace.
There is no rent but a monthly service charge of £537.55 and a weekly core care charge of £54.53.
Local Information
Oxlip House is situated in a new residential area on the outskirts of historic Bury St Edmunds.
Bury St Edmunds, commonly referred to as Bury, is a historic market town and civil parish in the in St Edmundsbury district, in the county of Suffolk, England. Bury St Edmunds Abbey is near the town centre. Bury is the seat of the Diocese of St Edmundsbury and Ipswich of the Church of England, with the episcopal see at St Edmundsbury Cathedral.
The town, originally called Beodericsworth, was built on a grid pattern by Abbot Baldwin around 1080. It is known for brewing and malting (Greene King brewery) and for a British Sugar processing factory, where Silver Spoon sugar is produced. The town is the cultural and retail centre for West Suffolk and tourism is a major part of the economy.
Bury St Edmunds railway station serves the town, operated by Abellio Greater Anglia, on the Ipswich to Ely Line. Trains run seven days a week, every two hours to Peterborough and hourly to Ipswich and Cambridge. Trains from Peterborough continue to Ipswich after Bury St Edmunds. Onward train connections from Cambridge link with London King's Cross, London Liverpool Street, Stansted Airport, and Ipswich which provides connections to Liverpool Street via Colchester for example.
Shared Ownership for the over 55's - How does it work?
Whether you are retired, planning for your future or downsizing, where you live and quality of life is important. Oxlip House provides you with the privacy of your own apartment but with the sense of community.
You buy a share in your home (50% or 75%) with the remaining share owned by bpha. There is no rent to pay on a 75% purchase. This property has a 75% share available to purchase.
In the future, you can simply sell your share for its value at the time of sale (current market valuation required).
To qualify for the property, applicants will be required to have a sale agreed on their current property (if applicable) and have to be approved by Help to Buy East and South East, pass the necessary checks, and be over the age of 55.
The association will carry out an affordability assessment on any interested applicants and this will also be subject to care assessment.
Please note, applicants individual care needs will be assessed once an application has been made, however any potential purchaser will be required to pay for tailored care, with the amount confirmed by the care provider, in addition to the charges stated above.
*Fee Applies
Key Features
- Available Now
- Shared Ownership
- 75% Share Available
Particulars
Tenure: Not specified
Council Tax Band: Not specified
Property Downloads
Floor Plan Energy CertificateVirtual Tour
Map
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: Yes
Outside Space/Garden: n/a - Communal Terrace
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- Rent: This is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes).
- Service Charge: Covers maintenance and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 75%, full price £220,000, £8,250 Min Deposit. Calculated using a representative rate of 5.03%