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£130,200
3-bedroom, end-of-terrace house available through Shared Ownership in Barrington!
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.
3-bedroom, end-of-terrace house available through Shared Ownership in Barrington!
A modern 3-bedroom house available through Shared Ownership. Featuring a front and back garden, allocated parking, one bathroom, a fitted kitchen with appliances, and an air source heat pump.
Key Features
- Three bedrooms
- Energy efficient home - EPC Rating: C
- 111-year lease
- Excellent transport links from Shepreth Railway Station
- Fitted kitchen, including fridge/freezer and hob oven
- Carpets in all bedrooms for added comfort
- Two allocated parking spaces
- Front and back garden
Key Information
Tenure: Shared Ownership
Available Shares from: 31%
Full Market Value: £420,000
Share Value (initial purchase) from: £130,200
Rent (on unsold equity): £741.85
Service Charge: £37 per month
Lease Length: 111 years
Council Tax Band: C
EPC Rating: C
Please note that higher shares may be available to purchase. Maximum share of 80%. The final share amount will be discussed and agreed upon during your financial assessment.
Development & Location
Barrington is an idyllic village located just seven miles south-west of Cambridge. It offers a range of local amenities, including a primary school within walking distance, a post office/general store, a pub, and a vibrant village hall that hosts regular community events. The village green, a central feature of Barrington, is home to football, cricket, and bowls clubs. Surrounded by open countryside with scenic walking and cycling routes, Barrington also enjoys excellent transport links. The A10 and M11 are easily accessible, while Foxton and Shepreth railway stations, just 1.5 and 2.5 miles away respectively, provide regular services to Cambridge and London.
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 a maximum of 80% of this home.
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.
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