We are pleased to bring to the market this 3 bedroom Semi-Detached House Shared Ownership. It is situated in Rutland, Oakham and is available now

This brand new home is available to buy from as little as £162,500 with a 50% share!

Barleywoods is a brand new development featuring Shared Ownership homes Oakham, Rutland. Close to local amenities and the beautiful Rutland Water area, this development is ideal for families and those looking to move away from city life. Oakham’s railway station is just a few minutes’ drive from the development, with services regularly run to Birmingham, London Stansted, and Cambridge, meaning it’s ideal for commuters and leisure travellers.

Despite its rural location, Oakham still features plenty of leisure opportunities for residents. Rutland Water is just a 13-minute drive from the development, and this park covers more than 4,200 acres of open countryside. From relaxing walks and bike rides to boating and water sports, there’s lots to do at the centre. Other local attractions include Rutland County Museum, Oakham Castle, and Rutland Farm Park.

Just under 45 minutes to the west, Leicester offers further attractions, including top-class music, culture, and sporting venues. One-off sites in Leicester include the National Space Centre, Leicester Cathedral, and the King Richard III Visitor Centre. Set just 15 minutes from the A1, Barleywoods is perfectly placed for leisure or business travellers. This road leads to major destinations, including Grantham, Newark-on-Trent, and Peterborough.

This brand new semi-detached house has accommodation that includes: entrance hall, cloakroom, a spacious lounge/diner at the back of the house with a separate kitchen, three bedrooms, bathroom, garden and parking for two cars.

PRICING & AFFORDABILITY

Approximate Size 1,026 sq ft

Full Market Value: £325,000

50% Share Price: £162,500 (rent £372.40pcm)
60% Share Price: £195,000 (rent £297.92pcm)
75% Share Price: £243,750 (rent £186.20pcm)

Minimum 5% Mortgage Deposit (50% share): £8,125
Approximate Service Charges: £64.23 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 Barleywoods 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.

SOWN Shared Ownership are part of the Leaders Romans Group and are selling the homes on behalf of Sage Homes. Sage Homes is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Homes visit www.sagehomes.co.uk.