Platform Home Ownership are proud to present a range of two bedroom apartments for Shared Ownership on this fabulous scheme in Leamington Spa. This development is ideally located to benefit from the bustling, historic town. You will find a range of local amenities which include restaurants, public houses, a shopping centre, leisure centres and parks. Leamington Spa also benefits from a train station for commuters, and easy access to the M40 and M6.
Station Approach was built in partnership with Warwick District Council and will include a new council owned 100 space car park and an improved cycle-path to the station, via the underpass off Avenue Road. The 75 Shared Ownership properties form part of a larger 160 property development being built by A.C.Lloyd.
Plot 140, a two bedroom apartment is NOW AVAILABLE in Leamington Spa.
This property briefly comprises of an Entrance Hall, Bathroom, two storage cupboards, two spacious Bedrooms, and Living Room with Kitchen/Dining area. Additional benefits include allocated parking for one vehicle and fob entry system. Please refer to the brochure for further information.
We are marketing the properties from 35% however other shares can be purchased subject to an affordability assessment.
Plot 140 - 2 Bedroom Apartment from;
£87,500 for a 35% share (deposit from £4,375)
Monthly Rent on remaining share £372.40
£125,000 for a 50% share (deposit from £6,250)
Monthly Rent on remaining share £286.45
£187,500 for a 75% share (deposit from £9,375)
Monthly Rent on remaining share £143.23
This property is build complete and viewings are available now.
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 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
NEXT STEPS:
- For further information, please download our brochure below.
- 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.
- Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.
- Once you have passed the affordability assessment, we will then be in contact to confirm the availability.
- 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 images are typical and should be used as a guide only