A new pathway home with Share to Buy
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2 bedroom apartment for sale

Available

Hedger Grove, CV35 0BE

£47,500 · Shared Ownership New Build

Share percentage 25%, full price £190,000, £2,375 Min Deposit.

Available
2 bedrooms
1 Bathroom
Parking
Floor plan
floor-plan
Floor plan
floor-plan
£47,500 Shared Ownership New Build · Eligibility Eligibility

Share percentage 25%, full price £190,000, £2,375 Min Deposit.

Monthly Cost: £725
Rent £327, Service charge £133, Mortgage £265*

Calculated using a representative rate of 5.03%

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 Heritage Grange 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 this shared ownership scheme 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.

SOWN are selling the homes on behalf of Sage Homes. Sage Homes is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Homes visit www.sagehomes.co.uk.

Summary

This brand new home is available to buy from as little as £47,500 with a 25% share!

Description

This stylish and modern two-bedroom, first floor apartment is located within the Heritage Grange development. The apartment features a spacious open-plan kitchen, dining, and living area, designed for modern living and entertaining. The main bedroom offers ample space and comfort, while the second bedroom is perfect for guests, a home office, or additional living space. A well-appointed bathroom and convenient storage complete the layout, ensuring functionality and comfort.

Heritage Grange is set in the picturesque village of Upper Lighthorne, surrounded by the beautiful Warwickshire countryside. The development is thoughtfully designed with a community-focused approach, offering green spaces and a tranquil setting. Local amenities include shops, schools, and recreational facilities, while the nearby towns of Warwick and Leamington Spa provide a wider range of dining, shopping, and leisure options. With excellent transport links to major cities, this is the perfect location for a balanced and connected lifestyle.


PRICING & AFFORDABILITY

Full Market Value: £190,000

25% Share Price: £47,500 (rent £326.56.00pcm)
50% Share Price: £95,000 (rent £217.71pcm)
75% Share Price: £142,500 (rent £108.85pcm)

Minimum 5% Mortgage Deposit (25% share): £2,375
Approximate Service Charges: £133.11 pcm*
Shared Ownership Lease: 125 years
Council Tax Band: TBC

Key Features

Brand new Shared Ownership home

First floor

Allocated parking space

Excellent transport links to Warwick, Leamington Spa, and nearby cities

Located in the charming village of Upper Lighthorne, surrounded by Warwickshire countryside

Particulars

Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: New build - Council tax band to be determined

Property Downloads
Floor Plan
Map
Leamington Spa (6.42 miles) Warwick (7.43 miles) Warwick Parkway (8.22 miles)
Material Information

Total rooms:

Furnished: Enquire with provider

Washing Machine: Enquire with provider

Dishwasher: Enquire with provider

Fridge/Freezer: Enquire with provider

Parking: Yes

Outside Space/Garden: n/a

Year property was built: Enquire with provider

Unit size: Enquire with provider

Accessible measures: Enquire with provider

Heating: Enquire with provider

Sewerage: Enquire with provider

Water: Enquire with provider

Electricity: Enquire with provider

Broadband: Enquire with provider

Monthly Cost Calculator

The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.

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  • 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.

£47,500
Shared Ownership New Build
Estimated Monthly Cost:£725
Rent £327
Service Charge £133
Mortgage £265

Share percentage 25%, full price £190,000, £2,375 Min Deposit. Calculated using a representative rate of 5.03%


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Disclaimer
The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.