3 bedroom house for sale

Available

8 Farnham Close, , LE2 2GS

£160,000 · Shared Ownership New Build

Share percentage 50%, full price £320,000, £8,000 Min Deposit.

Available
3 bedrooms
Floor plan
floor-plan
Floor plan
floor-plan
£160,000 Shared Ownership New Build · Eligibility Eligibility

Share percentage 50%, full price £320,000, £8,000 Min Deposit.

Monthly Cost: £1,213
Rent £367, Service charge £50, Mortgage £796*

Calculated using a representative rate of 3.92%

Calculate estimated monthly costs

£
Eligibility
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.
Summary

Wonderful 3 bedroom semi-detached house in the Stoughton Park Development. The price advertised represents purchasing a 50% share of the home.

Description

Wonderful 3 bedroom semi-detached house in the Stoughton Park Development. The price advertised represents purchasing a 50% share of the home.

About the Development

Stoughton Park is a development by Bellway Homes, located just off Gartree Road in the popular suburb of Oadby, just 5 miles from Leicester City Centre.

The first phase of Shared Ownership properties will feature a selection of 2 3 bedroom family homes, and are due to be build complete around July, with the following phase coming around October.

About the Home

This three-bedroom semi-detached home features an open plan kitchen/diner, separate lounge, downstairs WC, three bedrooms and garden.The third bedroom perfect for converting into an office or nursery.Furthermore there are allocated parking spaces with this home.

About the Area

Oadby is a very popular location, which is very close to a number of key amenities, including Launde Primary School and Manor High School.

There is also a comprehensive array of local shops, post office, pubs, and a local petrol station. Asda Superstore, Sainsbury’s Supermarket, Leicester Race Course, are all within a short drive of the Stoughton Park development.

Very good transport links are provided via the A6 & A563, with close access to the M1 motorway.

Shared Ownership

The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront 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. 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.

T&Cs

*Please note images are for information purposes only and may not represent a true likeness for the units being sold. Some or all images have been digitally furnished to represent how the home could be laid out and the final colours/appearance may differ from the images.

*Services Charges will apply, speak to our Sales Agent for more information. Costs are subject to change

Key Features
  1. 3 bedroom semi-detached house
  2. Flooring throughout
  3. Storage space
  4. Allocated parking
  5. Modern fitted kitchen
  6. Private garden
  7. 3 piece bathroom with shower over bath
  8. There will be an added service charge
Particulars

Tenure: Not specified
Council Tax Band: Not specified

Property Downloads
Floor Plan
Map
Leicester (2.71 miles) South Wigston (3.10 miles) Syston (5.85 miles)
Monthly Cost Calculator

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together, rent, service charge and mortgage.

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  • 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.

£160,000
Shared Ownership New Build
Estimated Monthly Cost:£1,213
Rent £367
Service Charge £50
Mortgage £796

Share percentage 50%, full price £320,000, £8,000 Min Deposit. Calculated using a representative rate of 3.92%


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.