The Lockton

Streethay offers excellent access to education facilities, making it an appealing location for families. At the heart of the community is Streethay Primary School, a modern primary school on Yoxall Way

For secondary education, families have easy access to highly regarded schools in nearby Lichfield, including King Edward VI School and The Friary School, both offering strong academic provision and sixth form opportunities. Independent education is also available at Lichfield Cathedral School, which provides education from nursery through to sixth form.

For further education, learners can access colleges and vocational training in and around Lichfield, while universities in nearby Birmingham and Stafford are within easy commuting distance. This wide choice of educational opportunities makes Streethay an ideal setting for families looking to put down long-term roots.

Streethay is located near the A38 and M6 Toll, which are major road networks that lead to larger destinations such as Birmingham, Walsall, Cannock and Tamworth.

The local bus network is excellent, offering direct routes into Lichfield city centre as well as surrounding villages and towns such as Alrewas.

There’s two train stations, Lichfield City  and Lichfield Trent Valley, which offer direct routes to Birmingham and London amongst many others.

The nearest airport to Streethay is Birmingham International Airport, which is around 40 minutes away by car.

Lichfield hosts the majority of the nearby amenities, with plenty to see and do, whether you’re out for some drinks or taking the kids on a day out.

More recently, Lichfield has become an excellent spot for foodies, whether you’re out for a sunny weekend brunch or cosying up on a date night. Highlights include UPSTAIRS by Tom Shepherd, a Michelin star restaurant that sits at the heart of the city and Poms, a hidden gem of a brunch spot that grew from a single cafe into a small boutique group around the West Midlands. Just another 10 minutes down the road, you’ll also find The Boat, another Michelin star restaurant with a menu designed around their own personal micro-farm.

In terms of things to see and do, you’re spoiled for choice. Aside from the obvious iconic Lichfield Cathedral, you’ll also find the Lichfield Garrick Theatre, the Samuel Johnson Birthplace Museum and Erasmus Darwin House.

Most buyers who can’t afford to buy a home outright can apply to buy through shared ownership.

We may also be able to help if you need to move because of a relationship breakdown or if your work requires you to live in an area outside your price range.

In order to buy through the Shared Ownership scheme, you must be able to demonstrate that you can afford and sustain home ownership. If you proceed with Shared Ownership you will be required to undertake an affordability assessment.

You must meet our adverse credit policy, if you have a history of adverse credit you are unlikely to be accepted depending on individual circumstances.

Shared owners still have to pay many of the usual costs involved in buying a home.

Reservation fee

We will ask you for a £250 deposit to reserve your chosen home. When the sale goes through we put this towards your purchase payments. However, we cannot refund it if the sale does not go through.

Mortgage deposit and fees

Most mortgage lenders will ask for a 5% or 10% deposit towards the price of the share you want to buy. They are also likely to charge a valuation fee and administration fees.

Legal fees

Solicitors’ charges can vary so it is best to get a few estimates. You will also have to pay Land Registry and local search fees, and may have to pay stamp duty depending on the value of the property.

After you've moved in

You also need to budget for the ongoing costs of owning a home.

Mortgage repayments

You will have to make monthly mortgage repayments to your lender. Depending upon the type of mortgage you have, these repayments may vary as interest rates change.

Rent

You pay a subsidised monthly rent to us on the share of your home which we own. The amount is reviewed on the 1st April each year.

Service charges

You will have to pay a small charge if your home has any facilities or communal areas which we maintain, such as shared entrance halls, lighting and grounds. Your service charge will also include your buildings insurance and your management fee.

Household bills

These include your council tax and utility bills for water, gas and electricity.

Repairs

We will arrange for any defects on new-build homes to be repaired during a set time period. After that time has elapsed, you will be responsible for arranging and paying for all repairs to your home.

Home contents insurance

We provide buildings insurance with the cost of your service charge but this does not cover your belongings. We strongly recommend you arrange your own home contents insurance.

Much will depend on your other financial commitments and what property/share you want to buy. We don't want you to be overstretched, so we need to be sure that you can afford to pay your mortgage and rent. We look at each application individually and will advise you on your options.

Shared ownership schemes are backed by government funding to help people on smaller incomes. So you will not qualify for most shared ownership schemes if your household income is less than £10,000 or more than £80,000 a year.

On the property listings for some of our shared ownership homes, you will see that we state a local connection to the area is required.

This generally applies in rural areas and small villages where land has been made available specifically for affordable housing to meet the needs of local people, rather than for private development.

These are known as ‘rural exception sites’ or 'protected areas' and are controlled by ‘Section 106 Agreements’. They aim to help local people and families afford homes in the area where they grew up.

The local connection criteria can vary between different developments, but is usually based on the following:

applicant was born in the area and has lived there for a number of years

applicant has permanently lived in the area for a number of years

applicant used to live in the area for a number of years but had to move away because of the lack of affordable housing

applicant has been permanently employed in the area for a number of years

The number of years is usually between 2 and 5, although this differs by local authority

Usually priority is given to applicants with a local connection to the parish. If there are still properties remaining, allocation will be opened up to surrounding parishes and then to the whole of the local authority area. This ensures that the homes are occupied by residents as local to the area as possible.

If you want to find out more about the local connection criteria for a particular development, or check if you qualify, please email sales@platformhg.com

Yes you can, once you have moved into your Shared Ownership property, providing you can afford it, you are able to buy more of your home through the process of Staircasing.