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The Holly Plot 6
Plot 6 External
Plot 6 Kitchen
Plot 6 Kitchen1
20230821 134117

READY NOW

READY NOW

Fernwood Meadows, 3 Bedroom Detached House

3 bedroom detached house
Tenure type: Shared Ownership

3 bedrooms

Stunning 3 Bedroom Detached House

buy from £114,000

From £102,500 for 36% share

Or call our sales team on 0333 200 7304

Fernwood Meadows, 3 Bedroom Detached House

3 bedroom detached house
Tenure type: Shared Ownership

3 bedrooms

Stunning 3 Bedroom Detached House

buy from £114,000

From £102,500 for 36% share

Or call our sales team on 0333 200 7304

Features

  • 10 year build warranty
  • Double glazed windows
  • Family bathroom with shower over bath
  • Allocated parking
  • Gas central heating
  • Modern fitted kitchen
  • Stainless steel oven, hob & extractor
  • Turfed rear garden
  • Available plot numbers: 6,

Tenure

Shared Ownership

Part of the Fernwood Meadows development

Property Brochure

Check your affordability

Use the Shared Ownership mortgage calculator to estimate the cost of buying this home

These properties are now available!

 

The Development

We are excited to be offering a stunning 3-bedroom detached house for Shared Ownership situated within the popular Fernwood Village.

Fernwood is located on the edge of Balderton, approximately 3 miles south of Newark giving easy access to the A1 which is perfect for commuting to both Nottingham or Lincoln.  There is a range of local essential amenities including a day nursery, primary school, village hall, 2 public houses, convenience stores and fitness Gym.

The Property

These properties briefly comprise of a Living Room with under-stairs storage, downstairs WC and a Kitchen/Dining Room.  To the first floor, there are two double bedrooms and a family bathroom.  Additional benefits include allocated parking and an enclosed rear garden.

Plot 6 - FMV  £285,000

£114,000 for a 40% share (deposit from £5,700)
Monthly Rent on remaining share £391.87

£142,500 or a 50% share (deposit from £7,125)
Monthly Rent on remaining share £326.56

£213,750 for a 75% share (deposit from £10,687)
Monthly Rent on remaining share £163.28

Other shares can be purchased subject to an affordability assessment. 

Examples of deposit rates are based on our minimum required deposit rate of 5%. However please seek financial advice to confirm what deposit rate is available to you. 

 

Council Tax TBCdue to these properties being new builds and not being previously occupied the council tax and banding has not yet been set. 

 

Service Charge – A service charge will be charged against the property and is paid monthly with your rent payment.  The service charge is reviewed on an annual basis on April 1st.  This will include Buildings insurance, management and any communal/estate charges that may be covered (if applicable). The service charge displayed is estimated based on the initial assessment of the scheme, please contact the sales consultant for details

 

Ground Rent – Not applicable 

 

Homes England Key Information Document – please refer to our website to read through our key information document for this property. This will include pricing details, eligibility and some lease information.

 

NEXT STEPS:

  1. For further information, please download our brochure below.
  2. TO APPLY NOW, please make an enquiry to contact Platform Home Ownership, the relevant sales consultant will then send you an application form to complete.
  3. Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.
  4. Once you have passed the affordability assessment, we will then be in contact to confirm the availability.
  5. If there is a suitable property we will then issue out your offer letter and advice on how to pay your £250.00 reservation fee for your new home.

Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. It allows you to buy a share in a property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Over time, you can purchase more shares in your property – this is known as ‘staircasing’. This can be done at any time after initial purchase and it will reduce the amount of rent you pay, as the share of the home that you do not own will have got smaller.

We will offer shares between 25-75% of the property value depending on the outcome of the affordability assessment. The higher the share you purchase, the lower your rent will be. You will need to be able to obtain a mortgage for the share you want to purchase unless you have sufficient funds to enable you to purchase a share outright. Deposit amounts will be lower than purchasing a property on the open market also the combined cost of mortgage and rent is often cheaper than privately renting in the area.

For more detailed information and your obligations in relation to shared ownership please download our ‘Guide to Shared Ownership’ 

 

Am I eligible?

Shared Ownership uses the following criteria to help people to get onto the property ladder:

- Maximum annual household income of £80,000.

- Unable to purchase a home suitable for your needs.

 

*Please note some should be used as a guide only

 

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% Share Price Monthly Rent
35% £99,750 £424.53
40% £114,000 £391.88
45% £128,250 £359.22
50% £142,500 £326.56
55% £156,750 £293.91
60% £171,000 £261.25
65% £185,250 £228.59
70% £199,500 £195.94
75% £213,750 £163.28

Key Information Document 1

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