Shared Ownership in Bury St Edmunds , Suffolk 3 bedroom Semi-Detached House

  • £350,000

    Equity share: 50% / £175,000

Manor View - Plot 17
For Sale Shared Ownership

Shared Ownership in Bury St Edmunds , Suffolk 3 bedroom Semi-Detached House

Manor View - Plot 17
  • £350,000

    Equity share: 50% / £175,000

Property Overview

  • Semi-Detached House
  • Property Type
  • 3
  • Bedrooms
  • 1
  • Bathroom

Property Description

Shared Ownership

This brand new home is available to buy from as little as £175,000 with a 50% share!

Nestled on the edge of the bustling market town of Halesworth in beautiful Suffolk, Manor View takes its name from the charming vistas over the rolling grounds of the historical hall nearby. Offering all the tranquillity of countryside living, coupled with a vibrant town community, Manor View is within easy walking distance of a range of independent shops, boutiques, pubs, restaurants and facilities and only a 20 minute drive from the beautiful Suffolk coastline.

With straightforward connections to Ipswich, Norwich and Cambridge – and then onto London – it’s easy to keep in touch with city life before heading home to rural relaxation. The renowned Suffolk Heritage Coast is on your doorstep, with the ever-popular seaside destination of Southwold less than 10 miles away and the ruggedly beautiful beaches of Walberswick and Dunwich Heath close by. With the Broads National Park to the north and a sea of Nature Reserves to the south, this delightful region offers a day out for everyone.

This brand new semi detached home has spacious accommodation to include: entrance hall, kitchen/dining room with a separate living room, ground floor cloakroom, three bedrooms and a bathroom. Externally is off road parking and at the rear is an enclosed garden.

PRICING & AFFORDABILITY

Approximate Size 1089 sq ft

Full Market Value: £350,000

50% Share Price: £175,000 (rent £401.04pcm)
60% Share Price: £210,000 (rent £320.83pcm)
75% Share Price: £262,500 (rent £200.52pcm)

Minimum 5% Mortgage Deposit (50% share): £8,750
Approximate Service Charges: £31.67 pcm*
Shared Ownership Lease: 125 years
Council Tax Band: TBC

ELIGIBILITY

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 Manor View 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.
• 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.

Property Address

Open on Google Maps
  • Address Manor View - Plot 17
  • City Bury St Edmunds
  • County Suffolk
  • Postal Code IP19 8FA

Details

Updated on February 13, 2024 at 2:24 pm
  • Property ID: MS-122392
  • Rental Amount Per Month: £401/Month
  • Bedrooms: 3
  • Bathroom: 1
  • Property Type: Semi-Detached House
  • Property Status: For Sale, Shared Ownership
  • Available from: 02/13/2024
  • Estimated Monthly Service Charge (£): 31
  • Value Of The Equity Share: 50% / £175,000
  • Overall Property Value: £350,000
  • Tenure: Leasehold
  • Council Tax Band: Unknown
  • Length of Lease: 125

Contact SOWN about: Shared Ownership in Bury St Edmunds , Suffolk 3 bedroom Semi-Detached House

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