4 bedroom house for sale
Montgomery Plave - Plot 2, TF9 3RP
Share percentage 25%, full price £360,000, £4,500 Min Deposit.
Share percentage 25%, full price £360,000, £4,500 Min Deposit
Monthly Cost: £1,191
Rent £619,
Service charge £71,
Mortgage £501*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
At Montgomery Place 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 own 100% of your home.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £80,000.
• 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.
^ Terms and conditions apply. Please speak to a sales representative for more information. Incentives can be altered or withdrawn at any time prior to exchange of contracts.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
**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. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.
Summary
This brand new home is available to buy from as little as £90,000 with a 25% share!
Description
This brand new home is available to buy from as little as £90,000 with a 25% share!
Situated in the charming town of Market Drayton, the development emphasises sustainability and community, featuring green open spaces and a children's play area, all set within a 23-acre site. Each home is crafted to provide comfort and style, making Montgomery Place an ideal choice for those seeking a blend of countryside, tranquillity and contemporary living.
Built to ‘The Buckland’ design, this impressive detached home features a kitchen/diner at the back of ethe house with Franch doors that open to the garden and a separate living room. You’ll also find a utility room and cloakroom to the ground floor along with access to the integral garage. Upstairs there are four bedrooms (en suite to bedroom one) and a family bathroom. Externally is parking in front of the garage and a garden.
Local Area & Amenities
Market Drayton, nestled in Shropshire's picturesque countryside, is renowned for its rich history and vibrant community. The town hosts a traditional weekly market every Wednesday, a tradition dating back to 1245. Residents can enjoy the scenic Shropshire Union Canal, perfect for leisurely walks and cycling. The town is also famous for its gingerbread, a delicacy produced locally since the 18th century. Essential amenities, including shops, cafes, and healthcare facilities, are readily available, ensuring convenience for all residents.
Travel Connections
Montgomery Place offers excellent connectivity to surrounding towns and cities. The A53 provides direct routes to Stoke-on-Trent, Shrewsbury, and Newcastle-under-Lyme. While Market Drayton no longer has its own railway station, nearby stations in Whitchurch and Crewe offer regular services to major destinations, including Birmingham and Manchester. Local bus services further enhance accessibility, making commuting straightforward for residents.
PRICING & AFFORDABILITY
Approximate Size 1275 sq ft
Full Market Value: £360,000
25% Share Price: £90,000 (rent £618.75pcm)
40% Share Price: £144,000 (rent £495.00pcm)
60% Share Price: £216,000 (rent £330.00pcm)
75% Share Price: £270,000 (rent £206.25pcm)
Minimum 5% Mortgage Deposit (25% share): £4,500
Approximate Service Charges: £70.83 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC
Key Features
Brand new Shared Ownership homes
Up to £2,500 purchasing incentive^
Garage and parking
Available immediately
En suite
Good travel connections
Easy access to local amenities and town centre
Particulars
Tenure: Leasehold
Lease Length: 990 years
Council Tax Band: New build - Council tax band to be determined
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: n/a
Outside Space/Garden: n/a
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- 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 and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 25%, full price £360,000, £4,500 Min Deposit. Calculated using a representative rate of 5.03%
