Share percentage 45%, full price £249,950, £5,624 Min Deposit.
Monthly Cost: £990
Rent £315,
Service charge £48,
Mortgage £627*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
- Your household income does not exceed £80,000 (outside of London) and £90,000 (inside of London)
- 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.
Summary
Brand new 3 bedroom house on the Spark Mill Meadows development.
Description
Brand new 3 bedroom house on the Spark Mill Meadows development. The price advertised represents purchasing a 75% share of the home.
About the Home
This home boasts a bright and airy living room
with French doors leading out to the rear garden and the kitchen/dining room creates
a sociable space in which to entertain. With great living areas, three bedrooms, one
with the luxury of an en suite bathroom, ample storage and two parking spaces, this
is the perfect place to call home. This home benefits from high specification of
insulation, solar panels and an electric vehicle charging point.
Shared Ownership
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright. You can buy a minimum 50% 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.
Service charge will apply
Please ask Sales Advisor for further information.
Key Features
- 10 year NHBC Warranty
- Downstairs WC
- Living room with patio doors to garden
- Allocated parking
- En suite to bedroom 1
- Service charge applicable
Particulars
Tenure: Not specified
Council Tax Band: Not specified
Property Downloads
Floor Plan Energy CertificateMap
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 45%, full price £249,950, £5,624 Min Deposit. Calculated using a representative rate of 5.03%
