3 bedroom house for sale
Elm High Road, PE13 2WG
Share percentage 35%, full price £240,000, £4,200 Min Deposit.
Share percentage 35%, full price £240,000, £4,200 Min Deposit.
Monthly Cost: £863
Rent £358,
Service charge £25,
Mortgage £480*
Calculated using a representative rate of 5.29%
Calculate estimated monthly costs
You may be eligible for this property if:
You have a gross household income of no more than £80,000 per annum.
You do not already own a home or you will have sold your current home before you purchase or rent.
You must be at least 18 years old.
Summary
3 bedroomed semi detached home now available
Description
We are excited to be offering 3 bedroomed houses for Shared Ownership in the market town of Wisbech. These houses are due for phased completion commencing March 2024 onwards (please note this is a guide only). These properties will benefit from a 10 year build warranty.
Wisbech has all local amenities including local shops, schools, restaurants and transport links and a bustling town centre. Wisbech offers a range of shops from high street to independent, there are also a range of schools close by, including Wisbech Grammar School.
Wisbech is a historic Georgian market town located in the Fenland district of Cambridgeshire. This picturesque town is known for its architectural beauty and its streets are lined with well-preserved Georgian buildings. Wisbech is also known for its elegant Castle and the Peckover House and Gardens.. Wisbech is also only approximately 20 miles from the vibrant city of Peterborough.
Homes England Key Information Document – please refer to our website to read through our key information document for this property. This will include pricing details, eligibility and some lease information.
NEXT STEPS:
1. For further information, please download our brochure below.
2. TO APPLY NOW, please make an enquiry to contact Platform Home Ownership, the relevant sales consultant will then send you an application form to complete.
3. Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.
4. Once you have passed the affordability assessment, we will then be in contact to confirm the availability.
5. If there is a suitable property we will then issue out your offer letter and advice on how to pay your £250.00 reservation fee for your new home.
Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. It allows you to buy a share in a property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Over time, you can purchase more shares in your property - this is known as 'staircasing'. This can be done at any time after initial purchase and it will reduce the amount of rent you pay, as the share of the home that you do not own will have got smaller.
We will offer shares between 25-75% of the property value depending on the outcome of the affordability assessment. The higher the share you purchase, the lower your rent will be. You will need to be able to obtain a mortgage for the share you want to purchase unless you have sufficient funds to enable you to purchase a share outright. Deposit amounts will be lower than purchasing a property on the open market also the combined cost of mortgage and rent is often cheaper than privately renting in the area.
For more detailed information and your obligations in relation to shared ownership please download our 'Guide to Shared Ownership'
Am I eligible?
Shared Ownership uses the following criteria to help people to get onto the property ladder:
- Maximum annual household income of £80,000.
- Unable to purchase a home suitable for your needs.
Please visit the Homes England website for further guidance using the Homes England Eligibility Checker.
*Please note some images are typical and should be used as a guide only
Key Features
Modern kitchens with integrated oven, hob and extractor
Lounge with patio door leading to the garden
Downstairs WC
Under stairs storage
Family Bathroom
Enclosed turfed rear garden
Private driveways or allocated parking spaces
10 year build warranty
Great town location
Particulars
Tenure: Leasehold
Lease Length: 990 years
Council Tax Band: New build - Council tax band to be determined
Property Downloads
BrochureMap
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 35%, full price £240,000, £4,200 Min Deposit. Calculated using a representative rate of 5.29%