Share percentage 75%, full price £289,950, £10,873 Min Deposit.
Monthly Cost: £1,426
Rent £166,
Service charge £49,
Mortgage £1,211*
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. The price advertised represents purchasing a 75% share of the home.
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
A double-fronted home - the ground floor features two substantial living spaces, each of which run the full length of the home. There’s a dual aspect living room which is bright and airy and a kitchen/dining room which offers all the benefits of open plan, along with a cloakroom and utility room.
On the first floor are three well-proportioned bedrooms. An en suite for bedroom one along with a family bathroom, ensures that no-one is short of bathroom space in the morning
Home complete with flooring package throughout
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
- En suite to bedroom 1
- Utility room
- Kitchen / dining with patio doors
- 10 year NHBC warranty
- Allocated parking
- 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 75%, full price £289,950, £10,873 Min Deposit. Calculated using a representative rate of 5.03%
