Share Price £126,000 (from 45% Min. Share)

Full Value £280,000 | £6,300 Min. Deposit

Scheme: Shared Ownership

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Edwalton Fields - 2 bed house in Edwalton - Nottinghamshire

place Aster Grove, NG12 4DR

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3 bedroom home available with Shared Ownership in Nottingham


Eligibility

ELIGIBILITY
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright. At Brook Meadow you can buy a minimum 40% 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 household income does not exceed £80,000 (outside of London) and £90,000 (inside of London)
• 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.


Description

This property is available to buy from as little as £6,300 deposit with a 45% share!

Edwalton Fields is a fabulous new development, located just off the A606 with a direct route into Nottingham City centre. The village of Edwalton has local shops that service day-to-day needs and larger supermarkets such as Tesco and Asda are within three miles of Edwalton Fields. The short trip into Nottingham centre (approximately five miles) gives a wider choice of shopping with over 120 stores, including ‘The Exchange’ shopping centre.

There is a great choice of restaurants and bars within the city centre with a wide choice of leisure activities at your fingertips. For those looking to commute, Nottingham Train Station is less than four miles away where direct services run to major UK cities including London, Manchester, Liverpool and Birmingham.

This brand new mid terrace home comes with allocated parking and an enclosed rear garden. The accommodation includes: entrance hall, cloakroom, an open plan lounge/diner, fitted kitchen, two double bedrooms and a bathroom.

PRICING & AFFORDABILITY

Size 70.98 sq m

Full Market Value: £280,000

45% Share Price: £126,000 (rent £352.92 pcm)
60% Share Price: £168,000 (rent £256.67 pcm)
75% Share Price: £210,000 (rent £160.42pcm)

Minimum 5% Mortgage Deposit (45% share): £6,300

Approximate Service Charges: £51.33 pcm*

The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright.

At Edwalton Fields you can buy a minimum 45% 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.

*These photos are for information purposes only and may not represent a true likeness for the units being sold. They are from a previous phase of the Edwalton Fields development have been digitally furnished to represent how the home could be laid out and the final colours/appearance may differ from the images. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

Leaders Romans Group are selling the homes on behalf of Sage Housing. Sage Housing is a Registered Provider committed to providing high quality affordable homes across England.


Key Features

• Spacious lounge
• Integrated appliances
• 2 double bedrooms
• Flooring throughout
• Garden
• Parking


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arrow_backwards Back to Edwalton Fields - 2 bed house in Edwalton - Nottinghamshire

Calculate Monthly Cost

Share price
£ 126,000
Min. £126,000
Share percentage
Min. 45%
Your deposit
Min. £6,300
Monthly cost*
£1,032
Cost breakdown
£353
Rent
£51
Service charge
£628
Mortgage*
Calculated using a representative rate of 3.94%
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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.

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.