3 bedroom end terraced house
<b>The Development</b> We are excited to release a selection of new shared ownership homes on the Fradley Manor Park development
Tenure Type: Shared ownership
Shared ownership £106,000
- 10 Year New Build Warranty
- Modern kitchen with built in oven, hob and extractor fan
- Downstairs cloaks/WC
- Family bathroom
- Turf in rear garden
- Village Location
- Bathrooms: 1
We are excited to release a selection of new shared ownership homes on the Fradley Manor Park development in Fradley, set on the outskirts of the city of Lichfield.
Within the village there are several small shops, a traditional pub, bar, and restaurant. For a greater retail selection nearby Lichfield City is a mere 4 miles away with is famous cathedral plus a plethora of historic streets surrounded by picturesque Staffordshire countryside.
These properties briefly comprise of an Entrance Hall, Living Room, W/C and Kitchen/Dinning. To the first floor, there are two double bedrooms and a family bathroom. Additional benefits include allocated parking and an enclosed rear garden.
Plots 8 & 10
Three bedroom end terraced house - £265,000 FMV
£106,000 for a 40% share (deposit from £5,300)
Monthly rent on remaining share £364.38
£132,500 for a 50% share (deposit from £6,625)
Monthly rent on remaining share £303.65
£198,750 for a 75% share (deposit from £9,938)
Monthly rent on remaining share £151.82
Other shares can be purchased subject to an affordability assessment.
1. For further information, please download our brochure below.
2. TO APPLY NOW, Please register with Help to Buy for Shared Ownership.
3. Then send your approved Help to Buy Application form or reference number to the Sales Team.
4. Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.
5. Once you have passed the affordability assessment, we will then send you an offer letter for the property and you pay a £250 reservation fee to reserve your chosen plot.
<b>Shared Ownership</b> 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 brand new leasehold property on a part buy/ part rent basis and pay a subsidised rent on the part that you do not own. After the initial purchase it is possible to buy further shares and eventually own these properties outright.
We will offer shares for sale normally between 25-75% of the property depending on how much you can afford to purchase and charge rent on the remaining share. The bigger the share you buy, the less rent you have to pay. You will need to be able to raise a mortgage for the share you want to purchase unless you have sufficient money to enable you to purchase without. The combined cost of mortgage and rent is often cheaper than privately renting in the area.
<b>Am I eligible?</b>
Shared Ownership uses the following criteria to help people to get a foot on the housing ladder:
- Maximum annual household income of £80,000.
- Unable to purchase a home suitable for your needs.
<b>*Please note some images are typical and should be used as a guide