The Fairways Plots 1 4

RESERVED

RESERVED

The Fairway - 3 Bedroom Home Available, The Fairway, Worcester

3 bedroom semi-detached house
Tenure type: Available for Shared Ownership

3 bedrooms

91 sq ft

Final Plot!

buy from £70,000

The Fairway - 3 Bedroom Home Available, The Fairway, Worcester

3 bedroom semi-detached house
Tenure type: Available for Shared Ownership

3 bedrooms

91 sq ft

Final Plot!

buy from £70,000

Features

  • 10 year build warranty
  • Allocated parking
  • Double glazed windows
  • Downstairs W/C
  • Family bathroom with shower over bath
  • Gas central heating
  • Last plot remaining
  • Modern fitted kitchen
  • Outside tap
  • Turfed rear garden
  • Driveway; 2 spaces

Tenure

Available for Shared Ownership

Part of the The Fairway - 3 Bedroom Home Available development

Property Brochure

Check your affordability

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

The Development

We are excited to be working with Tricas Construction, delivering 3 and 4 bedroom houses for Shared Ownership. Ideally situated in Worcester, these houses are due for build completion in January 2023. These properties will benefit from a 10 year build warranty.

The development is in an ideal location to access Worcester City Centre and attractions such as Worcester Cathedral and the River Severn. Cathedral Plaza offers high-end bars and eateries linking on to the high-street for those wanting to make the most of city living. Worcester has great transport links with two train stations on Foregate Street and Shrub Hill and is also in close proximity to the M5. The University of Worcester and Arena are also close by.

The Property

Plot 3 - 3 bedroom semi-detached house, from £70,000 for a 25% share.


Higher shares can be purchased, subject to an affordability assessment.

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:

  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 be in contact to confirm the availability.
  6. 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.

<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

% SharePriceMonthly Rent
35%£98,000£417.08
40%£112,000£385.00
45%£126,000£352.92
50%£140,000£320.83
55%£154,000£288.75
60%£168,000£256.67
65%£182,000£224.58
70%£196,000£192.50
75%£210,000£160.42

Find out More