Share Price £112,500 (from 45% Min. Share)

Full Value £250,000 | £5,625 Min. Deposit

Scheme: Shared Ownership

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Milton Meadow, Milton Keynes - 2 bed apartment in Milton Keynes - Milton Keynes

place Rowlandson Way, Milton Keynes, MK13 0FA

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2 bedroom apartment with Shared Ownership in Milton Keynes, Buckinghamshire


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 Milton Meadow, 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.


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

Sage are delighted to present these brand new two bedroom apartments on the new build Paul Newman Homes development, Milton Meadow which is located within the village of New Bradwell, north west of Milton Keynes, Buckinghamshire.

The development overlooks the River Great Ouse, providing superb views of the river and green meadows, making this a charming new home to move into.
Built with large modern windows, the superior design utilises the space and light provided to create an abundance of comfort and style. The two bedrooms are spacious and of near equal size whilst the open plan kitchen/diner/living room creates an enjoyable living space to call home. The flat is further complemented by storage space and a family bathroom that incudes a bath. Externally there is 1 car parking space.

New Bradwell is a charming village on the North West part of Milton Keynes admired for its character with The Grand Union Canal passing through, its stories of "The Bradwell Blitz" and echoes of its Edwardian era beginnings still present with some local buildings built roughly 150 years ago. Locally there are a good selection of schools, shops and family friendly pubs. Whilst close by Milton Keynes provides everything your heart could desire in choice of bars, restaurants, shops and entertainment venues.

The village further boasts excellent transport links with its proximity to Wolverton Station at only 12 minutes walk away or 2 minutes by car. Travel times to the M1 Junction 14 are under 10 minutes and Luton Airport is a 40 minute journey.
Prices on this development start from 45% equity share.

You will need a minimum 5% deposit (of the share value) for mortgage purposes, plus monies to pay for solicitor fees, moving costs & furnishings.


Pricing & Affordability


The share options below are based on the full market value of £250,000:

45% share £112,500: Rent £315.10 per month
60% share £150,000: Rent £229.17 per month
75% share £187,500: Rent £143.23 per month
Service Charge Information
There is a service charge of approximately £153.35 per month.

Shared Ownership

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 Milton Meadow, 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.

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.

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.

Information About Sage Housing

Taylors Wolverton are selling the homes on Milton Meadow development on behalf of Sage Housing. Sage Housing is a Registered Provider committed to providing high quality affordable homes across England.
Disclaimer


*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.


Key Features

• Second floor apartments available
• Good sized bedrooms with scenic views
• Open plan kitchen/living areas
• Flooring throughout
• Allocated Parking


Download Documents

Link to the floor plan Energy Certificate
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Calculate Monthly Cost

Share price
£ 112,500
Min. £112,500
Share percentage
Min. 45%
Your deposit
Min. £5,625
Monthly cost*
£1,029
Cost breakdown
£315
Rent
£153
Service charge
£561
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.