* Leasehold
Brand new 2 Bedroom shared ownership house available to purchase at £192, 500
with a deposit a little as £9, 625 which represents a 50% share of the full
market value of £305, 000. Maximum share to initially purchase is 75%.
The Wareham is a fantastic 2 bedroom house at Chancery Park in Exning,
Newmarket. From making your way into the property you will be greeted into the
hallway with the kitchen on your left hand side which stretches across two
sides off the room. Adjacent to the kitchen you have got the living room with
double French doors opening up into the garden allowing brilliant level of
natural light into the property. There is also an under stair cupboard in the
living room which is perfect for your storage needs. As we make our way up to
the first floor there are two bedrooms which are both double in size with the
master bedrooms benefiting from stretching across the whole width of the
house. The property comes with a three piece bedroom, airing cupboard,
downstairs W/C a fully turfed garden.
How much will this cost?
You can buy shares as low as 30% and Below is a breakdown of how much buying
at Chancery Park will cost.
Full Market Cost: £305, 000
30% Share - £91, 500
Rent/month - £489. 27
5% Deposit - £4, 575
50% Share - £152, 500
Rent/month - £349. 48
5% Deposit - £7, 625
75% Share - £228, 750
Rent/month - £174. 74
5% Deposit - £11, 438
Exning is a quaint and charming village based in West Suffolk with access to
the nearby A14 which allows easy travel into Cambridge and the M11 down
towards London. For the commuter there are rail services from Newmarket and
Ely which takes you into both Cambridge stations where you can go straight
into London Kings Cross or Liverpool Street.
Exning benefits from a primary school with an ‘outstanding’ rating from
Ofsted, post office, array of pubs and local shop. Nearby only a stones throw
away is the famous town of Newmarket which stages some of the most popular
horse racing in the world at the Rowley Mile and July Race courses. Newmarket
has a wide variety of amenities including supermarkets, golf course, café’s,
restaurants, bars and fantastic range of quirky privately owned shops too.
What is shared ownership?
Shared Ownership is a government - backed scheme that has been around for more
than 35 years and has helped over 200, 000 people buy a home.
Why buy shared ownership?
Shared Ownership is the perfect way to get on to the housing ladder if your
finances mean that your housing needs and your current situation don’t quite
match. Better still, it’s usually cheaper than renting.
How does it work?
With Shared Ownership you buy a percentage of the home’s overall value. You
can buy between a 25% and 75% share to start with, and you must always buy the
maximum you can afford. You pay rent on the share you don’t buy. The rent
increases annually, but is always subsidised and is worked out using a
percentage of the value of the share you don’t own.
If you’re looking to buy with Shared Ownership you’ll need a mortgage in the
same way you would if you were buying on the open market. Shared Ownership
mortgages are available from most mortgage lenders, who will lend to you if
you have a 5% deposit or greater. This means that you could buy your dream
home, in your dream area, without needing a big deposit or big salary.
Are you eligible?
There are two things to think about when looking into Shared Ownership:
• You must earn less than £80, 000.
• You must be a first - time buyer, or no longer have your name attached to a
house (if you are selling your home at the moment, speak to your provider,
they will be able to advise you).
Particulars
Tenure: Leasehold
Council Tax Band: New build - Council tax band to be determined

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