Selection of 2 and 3 bed homes
buy from £124,000
Selection of 2 and 3 bed homes
Part of the Lacefields, Loughborough Road development
Use the Shared Ownership mortgage calculator to estimate the cost of buying this home
The Loughborough Road Ruddington development is ideally situated in Nottingham, Ruddington itself is a beautiful destination, providing all of the amenities you'd ever need including shops, schools, pubs, restaurants, community centres and a community hall all located in the village.A short drive takes you to Nottingham City Centre where there are a selection of shops like Victoria Centre, Primark and Marks and Spencer There are restaurants, bars and pubs. There's also a range of local primary and secondary schools and University, great transport links with local bus routes, road links to the M1 motorway and Nottingham train station. The properties will benefit from a 10 year build warranty.
These properties briefly comprise of an Entrance Hall, WC, Living Room and a Kitchen/Dining Room. To the first floor, there are three bedrooms and a family bathroom. Additional benefits include allocated parking for two vehicles and an enclosed rear garden.
Council Tax TBC – due 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 download and read through our key information document for this property. This will include pricing details, eligibility and some lease information.
<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 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 images are typical and should be used as a guide only