Elms Road, Red Lodge, Bury St Edmunds, IP28
- Brand new Shared Ownership home
- Open plan lounge/kitchen/diner
- Two double bedrooms
- Ground floor WC
***INCENTIVE - £99 reservation fee and £500 towards legal fees for any reservations taken in August!!***
This property is available to buy from as little as £96,000 with a 40% share!
Hunter's Chase is an exclusive development situated in an established Suffolk village benefiting from lots of open spaces. Within walking distance to local amenities and the open spaces of Red Lodge Heath.
Red Lodge is a desirable village set in the rural Suffolk countryside and just seven miles from the historic town of Newmarket. The A14 & A11 provide travel links to various locations including Cambridge, Bury St Edmunds, Norwich and Ipswich.
This two bedroom semi detached home benefits from a ground floor cloakroom along with a fantastic open plan lounge/kitchen/diner that stretches the entire length of the house and is perfect for socialising and entertaining. On the first floor are two double bedrooms and a bathroom whilst externally you'll benefit from allocated parking and a private enclosed rear garden.
PRICING & AFFORDABILITY
Approximate size 69.70 sq m
Full Market Value: £240,000
40% Share Price: £96,000 (rent £330.00pcm)
50% Share Price: £120,000 (rent £275.00pcm)
75% Share Price: £180,000 (rent £137.50pcm)
Minimum 5% Mortgage Deposit (40% share): £4,800
Approximate Service Charges: £TBC pcm*
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front 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.
At Hunters Chase you can buy a minimum 40% 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 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.
*These photos are for information purposes only and may not represent a true likeness for the units being sold. They have been taken from 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. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.
Leaders Romans Group are selling the homes on behalf of Sage Housing. Sage Housing is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Housing visit www.sagehousing.co.uk.