Share Price £90,000 (from 50% Min. Share)

Full Value £180,000 | £4,500 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Milton Keynes - Milton Keynes

place Hutton Avenue, Oldbrook, MK6 2QG

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Two Bedroom Apartment in Milton Keynes available through the Shared Ownership scheme


Eligibility

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 or rent.

 


Description

This two bedroom ground floor apartment is situated in Milton Keynes, Buckinghamshire and is available to purchase through the Shared Ownership scheme.

Full Market Value: £180,000

Share Available: 50%

Monthly Rent: £179.98

Monthly Service Charge: £88.23

 

All applicants will need to be registered and approved by Help to Buy - this can be done on their website 'Help to Buy Agent 3'.

 

About the Property

Ground Floor: Entrance Hall, Kitchen/Living/Dining Room, Two Bedrooms and Bathroom.

Outside: Communal Garden, Allocated Parking Space.

 

Local Information

Milton Keynes is a City in the Borough of Milton Keynes, Buckinghamshire, of which it is the administrative centre. It was formally designated as a new town on 23 January 1967. It is located about 45 miles (72 km) north-west of London.

A modern city, Milton Keynes has been thoughtfully designed to create a ‘city in the forest’. With over 5000 acres of parks and woodlands and two million trees, you are spoilt for choice. Its array of waterways includes 15 lakes and picturesque ponds, 11 canals and miles of riverbank. The development is perfectly placed to take advantage of local retail and leisure facilities. Furthermore, it is a convenient location on the public transport network and has easy access to a major motorway which gives you quick connections to central Milton Keynes and beyond. 

The M1 motorway runs along the east flank of MK and serves it from junctions 13, 14, and 15. The A5 road runs right through MK as a grade separated dual carriageway. Other main roads are the A509, linking Milton Keynes with Wellingborough and Kettering, and the A421 and A422, both running west towards Buckingham and east towards Bedford.

 

Shared Ownership, how does it work?

If buying a home seems out of reach, Shared Ownership* could be the answer and offers a great alternative to renting. This property has a 50% share available to purchase, and you will pay a subsidised rent on the remaining share, as displayed above.

In the future you can purchase further shares in your home** or sell your share and move on.

 

*Properties are offered as leasehold.

**Some properties are restricted to the level of share you can purchase.

Please note: Your home may be repossessed if you do not keep up repayments on your mortgage.

All applicants will need to be approved by Help to Buy at their website. 


Key Features

  • Available Now
  • Shared Ownership
  • 50% Share Available
  • Gas Central Heating
  • Double Glazing

Download Documents

Link to the floor plan Energy Certificate
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Calculate Monthly Cost

Share price
£ 90,000
Min. £90,000
Share percentage
Min. 50%
Your deposit
Min. £4,500
Monthly cost*
£716
Cost breakdown
£180
Rent
£88
Service charge
£448
Mortgage*
Calculated using a representative rate of 3.94%
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Location

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.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

  • 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 costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.


NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.