78 sq ft
Shared Ownership Homes now SSTC
78 sq ft
Shared Ownership Homes now SSTC
Part of the The Grove, Worcester development
Use the Shared Ownership mortgage calculator to estimate the cost of buying this home
All of our 3 bedroom plots at this development have now been reserved and are sold subject to contract. You can still register your interest for any future releases in this area by clicking "enquire now".
Ideally located on the outskirts of Worcester, The Grove is a quiet semi-rural development yet still within a short distance of the city centre. Situated on the banks of the picturesque River Severn, this vibrant and historic city offers a diverse selection of shops, bars and restaurants as well as numerous supermarkets, leisure centres, primary schools and secondary schools.
This development is well suited for commuters; with two train stations and numerous bus routes, Worcester offers great transport links to Hereford, Malvern and Birmingham. The development is also within a short drive of Junction 7 of the M5 motorway.
The houses briefly comprise of an Entrance Hall, Downstairs W/C, Living Room & Kitchen/Diner leading to the living/dining room. Upstairs, the properties feature additional storage, a family bathroom and 3 bedrooms, one of which has an en-suite bathroom.
These properties benefit from gas central heating and double glazing, as well as allocated parking and an enclosed rear garden. We are selling numerous housetypes with varying layouts, please refer to the brochure for further details.
Lyttleton - Plots 204 & 302 - Prices from £120,000 for a 40% share
Drummond - Plots 205 & 303 - Prices from £120,000 for a 40% share
Makenzie - Plots 265 & 266 - Prices from £128,000 for a 40% share
Lawrence - Plot 267 - Prices from £130,000 for a 40% share
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). Please note, there will be an additional management company fee of which the charge will be advised upon request.
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.
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