Phillips Way West, Hampton Magna, Warwick, CV35
- Brand new Shared Ownership home
- Two bedrooms
- Semi detached
- Separate kitchen/dining
- Downstairs cloakroom
This brand new home is available to buy from as little as £73,750 with a 25% share!
Hampton Trove is is set within a semi-rural location in the popular village of Hampton Magna. The development is well connected and boasts easy access to Warwick, Leamington Spa, and Coventry, while promising excellent commuter links and well-regarded local schools in the close surrounding area.
The Royal Priors Shopping Centre is Leamington's only indoor retail centre and is located under 20-minutes away by car. With spacious indoor boulevards and a mix of designer and high street brands, this impressive mall promises a satisfying retail experience, complete with quaint cafés and a family-friendly restaurant. Stunning architecture and award-winning parks provide a sophisticated backdrop to this Regency town.
Offering excellent transport connections throughout the area with convenient access to the motorway network. The M40 is less than four miles from the development and provides routes to Oxford, Birmingham, Banbury and London among other popular destinations. Coventry can also be reached in just under 30 minutes via the A46. Around a 15 minute drive from Hampton Trove is Leamington Spa train station which serves a number of major destinations including Birmingham, London and Manchester.
PRICING & AFFORDABILITY
Approximate Size 799 sq m
Full Market Value: £295,000
25% Share Price: £73,750 (rent £507.03pcm)
50% Share Price: £147,500 (rent £338.02pcm)
60% Share Price: £177,000 (rent £270.42pcm)
75% Share Price: £221,250 (rent £169.01pcm)
Minimum 5% Mortgage Deposit (50% share): £3,687.50
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 Hampton Trove you can buy a minimum 50% 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 (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.
*Service charges are estimated and may subject to change.
**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.
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.