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Pricing to be confirmed
Properties coming soon to Leamington Spa, register your interest now! Shared Ownership could help you to own your own home! Properties due to be build complete Late Sprin...
You can apply to buy the home if all of the following apply:
- your household income is £80,000 or less
- you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs
One of the following must also be true:
- you're a first-time buyer
- you used to own a home but cannot afford to buy one now
- you're forming a new household - for example, after a relationship breakdown
- you're an existing shared owner, and you want to move
- you own a home and want to move but cannot afford to buy a new home for your needs
If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.
As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.
The Development The Harbury Lane development is being built by Miller Homes part of their Silver Willows development and is ideally situated in Leamington Spa, a bustling town situated 3 miles from the M40 with routes to both Birmingham and London and the A46 which links to Coventry and Stratford Upon Avon. There is also a train station in the town. Leamington Spa benefits from supermarkets, public houses, restaurants and there are both Primary and Secondary schools. The properties will benefit from a 10 year NHBC warranty. The Property These properties briefly comprise of an entrance hall, living Room door to enclosed area with under-stairs storage and cloaks/wc a kitchen/dining Room with door to rear garden. To the first floor, there are two double bedrooms, one of which includes built-in storage and a family bathroom. Additional benefits include allocated parking for two vehicles and an enclosed rear garden. Prices Prices are subject to change and based on an estimation of the current market value, please use as a guide only until properties are released for sale. NEXT STEPS: Please pre-register your interest for this development, we will contact you as soon as we have any further information. Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. It allows you to buy a share in a property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Over time you can purchase more shares in your property - this is known as 'staircasing'. This can be done at any time after initial purchase and it will reduce the amount of rent you pay as the share of the home that you do not own will have got smaller. We will offer shares between 10-75% of the property value depending on the outcome of the affordability assessment. The higher the share you purchase, the lower your rent will be. You will need to be able to obtain a mortgage for the share you want to purchase unless you have sufficient funds to enable you to purchase a share outright. Deposit amounts will be lower than purchasing a property on the open market also the combined cost of mortgage and rent is often cheaper than privately renting in the area. Am I eligible? Shared Ownership uses the following criteria to help people to get onto the property ladder: - Maximum annual household income of £80,000. - Unable to purchase a home suitable for your needs. *Please note some images are typical and should be used as a guide only |
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