2 bedroom house for sale
Cunningham Drive, IP23 7FD
Share percentage 25%, full price £260,000, £3,250 Min Deposit.
Share percentage 25%, full price £260,000, £3,250 Min Deposit
Monthly Cost: £867
Rent £447,
Service charge £58,
Mortgage £362*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
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 Castleton 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 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.
^ The gardens are Castleton Grange are not turfed and will be the responsibility of the buyer to turf their own garden should they wish.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
**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 £65,000 with a 25% share!
Description
Castleton Grange is located on the northern edge of Eye, a charming town nestled in the heart of Suffolk. All essential amenities are within easy walking or cycling distance, including two Co-op stores, an artisan bakery, a butcher, florists, a café, and a selection of bespoke shops, including a well loved hardware store. Eye also hosts a weekly mini farmers' market, offering fresh local produce.
The town and its surrounding villages boast an excellent selection of restaurants and pubs, all dedicated to using locally sourced ingredients. Notable options include The Auberge, The Oaksmere, and The White Hart, all just a five minute drive from Castleton Way. For outdoor activities, the Town Moors recreation site features play areas, a skate park, football pitches, and extensive woodland walking trails.
Well Connected & Easily Accessible
Nearby Diss offers larger supermarkets and a train station, while the vibrant towns of Bury St Edmunds, Ipswich, and Norwich are all within an hour’s drive. A 45 minute drive East leads to the breathtaking Suffolk Coast and Heaths Area of Outstanding Natural Beauty. The area is well served by main roads and local bus routes, and Diss provides direct train connections to nearby towns and London Liverpool Street.
This brand new mid terrace home features an open plan lounge/kitchen/diner that spans the full length of the house, a ground floor cloakroom, two double bedrooms and a family bathroom. Externally is allocated parking and an enclosed garden^.
PRICING & AFFORDABILITY
Approximate Size 772 sq ft
Full Market Value: £260,000
25% Share Price: £65,000 (rent £446.88pcm)
50% Share Price: £130,000 (rent £297.92pcm)
75% Share Price: £195,000 (rent £148.96pcm)
Minimum 5% Mortgage Deposit (25% share): £3,250
Approximate Service Charges: £58 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC
Key Features
Brand new Shared Ownership home
Open plan lounge/kitchen/diner
Parking
Close to local amenities
Available immediately
Good travel links
Particulars
Tenure: Leasehold
Lease Length: 990 years
Council Tax Band: Not specified
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: Yes - Allocated
Outside Space/Garden: Yes - Enclosed Garden
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
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 £260,000, £3,250 Min Deposit. Calculated using a representative rate of 5.03%
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