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£48,000
2-bedroom ground-floor apartment available in Ipswich through Shared Ownership!
You can apply to buy the home if all of the following apply:
- your household income is £80,000 or less
- you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs
One of the following must also be true:
- you're a first-time buyer
- you used to own a home but cannot afford to buy one now
- you're forming a new household - for example, after a relationship breakdown
- you're an existing shared owner, and you want to move
- you own a home and want to move but cannot afford to buy a new home for your needs
If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.
As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.
2-bedroom ground-floor apartment available in Ipswich through Shared Ownership!
Overview
This 2-bedroom apartment features two great-sized bedrooms, one bathroom apartment with an open kitchen/living area and permit parking, including visitor parking, and a private patio area - located in Ipswich.
Key Features
- Two bedrooms
- One bathroom with shower over bath unit
- 108-year lease
- Fully fitted kitchen with integrated appliances
- Plush fitted carpets in both bedrooms for added comfort
- Allocated Permit Parking
- Private patio area
- Shares available from 40%
Key Information
Tenure: Shared Ownership
Available Shares from: 40%
Full Market Value: £120,000
Share Value (initial purchase) from: £48,000
Rent (on unsold equity): £121.35
Service Charge: £125.74 per month
Lease Length: 108 years
Council Tax Band: B
EPC Rating: C
Please note that higher shares may be available to purchase. The final share amount will be discussed and agreed upon during your financial assessment.
Development & Location
Nestled in the established residential heart of Ipswich, residents benefit from excellent access to local amenities, with a range of shops, eateries and everyday services nearby, as well as regular public transport links and convenient routes into the Ipswich town centre and surrounding areas. Educational facilities, including primary and secondary schools, are within easy reach, making this postcode attractive for both professionals and families alike. Ipswich Station is just a 10-minute walk from the property, and services two direct trains an hour to London Liverpool Street Station in just over an hour.
Eligibility
Shared Ownership is designed to help first-time buyers and those who do not currently own a home get onto the property ladder.
To be eligible, you must:
- Have a household income of under £80,000
- Be unable to purchase a suitable home on the open market
- Have a good credit history and be able to obtain a mortgage
Shared Ownership is a government-backed scheme that helps people get on the property ladder. You start by buying just a share of your home. You'll typically only need a 5% deposit of the share you purchase, making it more affordable to get started. Buying a smaller share also means it can be easier to secure a mortgage and take your first step onto the property ladder.
You can buy more shares of your home at any time in the future, working towards owning your home outright.
You can add locations as 'My Places' and save them to your account. These are locations you wish to commute to and from, and you can specify the maximum time of the commute and by which transport method.
Red Loft