2 bedroom house for sale
Grey Way, CB5 8XT
Share percentage 33%, full price £510,000, £8,415 Min Deposit.
Share percentage 33%, full price £510,000, £8,415 Min Deposit
Monthly Cost: £1,719
Rent £783,
Service charge £22,
Mortgage £914*
Calculated using a representative rate of 4.78%
Calculate estimated monthly costs
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 Marleigh Park advertised shares start from 33% 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 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.
*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.
^ terms and conditions apply - please speak to a sales advisor for more information
Summary
This brand new home is available to buy from as little as £255,000 with a 50% share!
Description
Nestled just three miles from the heart of historic Cambridge, Latimer at Marleigh offers a wonderful opportunity to own a home through Shared Ownership in one of the city’s most exciting new neighbourhoods. Thoughtfully designed and beautifully built, this vibrant community is perfect for individuals, couples, and families looking to settle down and grow.
Surrounded by 57 acres of green space, this new neighbourhood offers room to breathe, relax, and explore. With plans for a new primary school, shops, and community facilities right on your doorstep, everything you need is close at hand.
Situated in East Cambridge, Latimer at Marleigh is part of a major regeneration that’s already transforming the area into a vibrant, well connected hub. For commuters and city explorers, excellent transport links make getting around easy:
• Cambridge North Station is less than 10 minutes by car, offering direct trains to London and beyond.
• Quick access to the A14 and M11 ensures easy road connections across the region.
• Regular bus routes link Marleigh with Cambridge city centre, the Science Park, and Addenbrooke’s Hospital.
The neighbourhood is also perfectly placed for enjoying the best of Cambridge. Stroll or cycle to the historic city centre, where cobbled streets lead to world-renowned colleges, riverside walks, charming cafés, and an eclectic mix of shops and restaurants.
This brand new terrace home features a stunning open plan living area on the ground floor; the spacious lounge/diner stretches the full length of the house and opens majestically into a high quality fitted kitchen with integrated appliances. In addition to this there is a ground floor cloakroom. On the first floor are two double bedrooms and a bathroom. Externally is allocated parking and a garden.
PRICING & AFFORDABILITY
Approximate Size 918 sq ft
Full Market Value: £510,000
33% Share Price: £168,300 (rent £783.06 pcm)
50% Share Price: £255,000 (rent £584.38pcm)
75% Share Price: £382,500 (rent £292.19pcm)
Minimum 5% Mortgage Deposit (33% share): £8,415
Approximate Service Charges: £22.07 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC
Key Features
Brand new Shared Ownership home
Open plan living
Two double bedrooms
Parking
Garden
Excellent travel links
Particulars
Tenure: Leasehold
Lease Length: 990 years
Council Tax Band: Not specified
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: Yes - Allocated
Outside Space/Garden: Yes - Private Garden
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 33%, full price £510,000, £8,415 Min Deposit. Calculated using a representative rate of 4.78%
