Magenta Way, Stoke Bardolph, Burton Joyce

Shared Ownership

This brand new home is available to buy from as little as £62,500 with a 25% share!

Bardolph View offers a selection brand new Shared Ownership homes. Gedling is a residential suburb with a village feel, offering the best of both worlds. It only takes 20 minutes to drive into Nottingham city centre and it's close to the peaceful countryside of the Gedling Country Park. Nottingham is famous for the legend of Robin Hood but it's also a lovely city to call home. The university adds to a vibrant atmosphere, as do the visitors who come here each year to enjoy the city's history and culture. Nottingham is well placed for routes to Leicester, Birmingham, Sheffield, Derby, and Peterborough, and a new home in Gedling will enjoy those connections too.

These stunning energy efficient homes have been constructed to the highest specifications and provide quality, contemporary living. Each one of these properties has a landscaped garden and off-road parking. With families at their heart, these impressive homes boast a spacious lounge to the front and a modern open plan fitted kitchen and dining room to the rear with French doors to the garden that flood the home with light. In addition, each property benefits from a downstairs w/c.

The first floor in each home has a contemporary three piece bathroom suite and 2 well proportioned bedrooms (a double and a single/office). The second floor has a large master bedroom with ensuite.

All this is complemented by gas central heating, smoke detectors, stylish uPVC doors & windows and neutral decor throughout.

PRICING & AFFORDABILITY

Full Market Value: £250,000

25% Share Price: £62,500 (rent £429.69pcm)
50% Share Price: £125,000 (rent £229.17pcm)
75% Share Price: £187,500 (rent £143.23pcm)

Minimum 5% Mortgage Deposit (25% share): £3,125
Approximate Service Charges: £27.07 pcm*
Shared Ownership Lease: 999 years
Council Tax Band: TBC

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

At Bardolph View you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for shared ownership you would need to meet the following criteria:

• Have a local area connection (live or work in the borough)
• Your annual household income does not exceed £80,000
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.