Shared Ownership

This superb modern home is available to buy from as little as £110,000 with a 50% share!

A spacious first floor apartment, benefiting from allocated parking and a long lease (approximately 969 years remaining). The accommodation includes an 18ft lounge/diner with a separate 14ft lounge, two bedrooms and bathroom.

Situated within the coveted village of Waterbeach, this property is conveniently located approximately six miles north of Cambridge. Its prime location ensures excellent transportation options, with the nearby Waterbeach railway station providing swift access to Cambridge in just a matter of minutes, as well as direct services to London Kings Cross. For those who prefer road travel, the A10 is within easy reach, facilitating convenient journeys into Cambridge and connecting to the A14 and M11. Furthermore, the surrounding countryside offers a plethora of charming walks, including scenic footpaths along the serene River Cam.

PRICING & AFFORDABILITY

Full Market Value: £220,000

50% Share Price: £110,000 (rent £369.58pcm)
Minimum 5% Mortgage Deposit (50% share): £5,500
Approximate Service Charges: £231.08pcm*
Shared Ownership Lease: approx. 969 years
Council Tax Band: A

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.

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.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

** This home can also be purchased outright (100% of the value) which is £220,000 and a purchaser would not need to meet the eligibility criteria listed above.