3 bedroom house for sale
Cutler Avenue, NG4 4NF
Share percentage 25%, full price £270,000, £3,375 Min Deposit.
Share percentage 25%, full price £270,000, £3,375 Min Deposit.
Monthly Cost: £879
Rent £464,
Service charge £30,
Mortgage £385*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
At Park View you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value.
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.
*Service charges are estimated and may subject to change.
**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.
Summary
This brand new home is available to buy from as little as £67,500 with a 25% share!
Description
Park View offers an elegant collection of Shared Ownership homes, located in the much sought after semirural location of Gedling. Only five miles from Nottingham, this development benefits from vibrancy of the city and the calm of Nottinghamshire’s breath-taking countryside.
These stunning energy efficient properties are constructed to the highest specifications and provide quality, contemporary family living. They each have a private garden to the rear and off-road parking to the front.
This popular location’s proximity to both the city and the countryside offers buyers the best of both worlds. Its close proximity to Nottingham means that you can enjoy city life any time you want; browse the extensive high street shops, dine in one of
Nottingham’s celebrated restaurants, or try out it’s vibrant night life. Or, delve into Nottinghamshire’s rich heritage and historic buildings; visit Nottingham Castle, Newstead Abbey, home of Lord Byron or, discover Gedling Country park (on the site of the Gedling Colliery) with its 240 acres of open space, footpaths, wildlife and stunning views over Nottinghamshire’s rolling hills and charming villages.
This brand new 3 bedroom home embraces modern living. With a large lounge with French doors to the garden that flood the home with light, it also boasts a stylish fitted kitchen/dining area and a useful downstairs W/C . There are 2 spacious double bedrooms and a single on the first floor and a contemporary 3 piece family bathroom. It also has a landscaped garden and off-road parking. All this is complemented by gas central heating, smoke detectors, stylish uPVC doors & windows and neutral decor throughout.
PRICING & AFFORDABILITY
Full Market Value: £270,000
25% Share Price: £67,500 (rent £464.06pcm)
Minimum 5% Mortgage Deposit (25% share): £3,375
Approximate Service Charges: £30.18 pcm*
Shared Ownership Lease: 999 years
Council Tax Band: TBC
Key Features
Brand new Shared Ownership home
Parking
Garden
Kitchen/diner
Approx. 5 miles from Nottingham centre
Ground floor WC
Particulars
Tenure: Leasehold
Lease Length: 999 years
Council Tax Band: Not specified
Property Downloads
Floor PlanMap
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 25%, full price £270,000, £3,375 Min Deposit. Calculated using a representative rate of 5.26%
