Share percentage 40%, full price £190,000, £3,800 Min Deposit.
Monthly Cost: £722
Rent £261,
Service charge £38,
Mortgage £423*
Calculated using a representative rate of 5.03%
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 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.
- You have a good credit history (no CCJ’s, defaults, IVA’s, or bankruptcy outstanding).
- You are assessed as being able to afford and sustain shared ownership.
Summary
*£500 CASHBACK^* Brand new 2 Bedroom Terrace Houses. Our affordable homes include an impressive specification as standard including flooring, modern kitchens with oven/hob & parking.
Description
Brand New 2 Bedroom Terrace Houses at Drakelow Park, a new neighbourhood close to Burton on Trent.
These new homes include:
- Entrance Hall
- Modern fitted Kitchen with oven, hob & hood
- Downstairs WC
- Living/Dining room with French doors to rear garden
- Two Bedrooms
- Bathroom with shower over bath
- Gas-fired central heating
- Flooring/carpets throughout
- Turfed rear garden
- Allocated parking
PRICE
Full Market Value £190,000 (100%)
40% share* = £76,000 Rent = £261.25
75% share = £142,500 Rent = £108.85
Plus the following monthly charges:
Management Charge: £22.00
Buildings Insurance: £13.42
Estate Charge: £3.00
£500 Cashback - available on certain plots. ^Subject to terms and conditions and only payable upon completion by specific date (dependent upon plot).
Drakelow Park has the River Trent to the North, and open fields to the South. Less than 4 miles south of Burton-upon-Trent, the location benefits from all the facilities of this market town including shops, supermarkets and popular local pubs and restaurants. The neighbouring village of Stapenhill also offers a range of amenities.
There are miles of footpaths to enjoy walking or cycling by the river within walking distance, as well as great choice of schools and transport links within very easy reach.
Burton-on-Trent railway station is 3 miles away, with regular services to Derby, Nottingham and Birmingham. East Midlands Airport is only 30 minutes away by car, while Birmingham Airport can be reached in 35 minutes.
All applicants are required to check they meet the criteria for Shared Ownership as set out at GOV.UK in the first instance.
*The Price advertised is for our target share of 40% and is for illustration purposes only (to give an indication of the cost of purchase, rent, etc); it is not the minimum or maximum that is available for purchase. Other shares are available upon request & will be based on affordability, proceed ability & sustainability. There are opportunities to buy more shares to own 100% of the property in the future.
Buyers will be considered on first come first served basis (assuming affordability, proceed ability & sustainability checks are met) & need to demonstrate maximum affordability which will be determined via a Mortgage advisor prior to any agreed sale.
Amount advertised is subject to change. An additional monthly rental charge applies that includes rent, buildings insurance, estate and management charge but excludes any mortgage payment.
Any Images/Photographs shown are for illustrative purposes only & simply represent a typical 2 bed house type.
>Floor plans depict a typical layout of this house type and are for illustrative purposes only. They are not intended to be used for carpet sizes, appliance sizes or items of furniture. For exact plot specification, please speak with our Sales Adviser. Some properties may be a mirror image of the plan shown & some aspects may differ.
Key Features
- 2 Bedroom Terrace Houses
- Available on new Shared Ownership scheme with 990 year lease
- £500 Cashback^ on specific plots
- Option to buy more shares to own 100% of the property in the future
- A new neighbourhood close to Burton on Trent
- Modern fitted Kitchen with Oven, Hob & Hood
- Living/Dining Room with French doors to rear garden
- Carpets/Flooring throughout
- Allocated parking
- Energy efficient new home
Particulars
Tenure: Leasehold
Lease Length: 990 years
Council Tax Band: Not specified
Property Downloads
Key Information Document Floor Plan BrochureVideo Tour
Map
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 40%, full price £190,000, £3,800 Min Deposit. Calculated using a representative rate of 5.03%
