This is a spacious 2-bed apartment in leafy Littlemore, just south of the historic city of Oxford. This fantastic apartments comes complete with an open-plan kitchen/living/dining area, private balcony, and master bedroom with en suite.
Plot 107 - The Cedar Shared Ownership Cost Breakdown - 25% Share *
Full market value = £345,000 *
Example 25% share price = £86,250 *
Rent = £592.97pcm (charged at 2.75% of the unsold equity)
* Estimated service charge = £148pcm
Shared Ownership Cost Breakdown - 40% Share*
Full market value = £345,000 *
Example 40% share price = £138,000 *
Rent = £474.38pcm (charged at 2.75% of the unsold equity) *
Estimated service charge = £148pcm
Shared Ownership Cost Breakdown - 75% Share
Full market value = £345,000*
75% share price = £258,750 *
Rent = £197.66pcm (charged at 2.75% of the unsold equity) *
Estimated service charge = £148pcm
How does Shared Ownership work?
Shared Ownership is a Government-backed scheme for first-time buyers who are unable to afford a suitable home at the full market price. You initially purchase between 25-75% of the home's market value. You then pay subsidised rent on the remainder calculated at 2.75% per annum.
Am I eligible?
To be considered eligible for the Shared Ownership scheme your yearly income must be below £80,000. For London the limit is £90,000. Those who already own a home are not eligible for the scheme. You would need to sell your current home to be considered
Will I need to pay a deposit?
n terms of a deposit you will need 5% of the percentage of the home you're purchasing.
Newman Place
Just south of a city whose evocative skyline, cobbled streets and college quads are known across the globe, Littlemore Village has its own distinctive character and strong sense of community, superbly placed for everything from one of the UK's most innovative science and technology parks to Oxford's vibrant city culture, to offer modern living for today. With two of the region's major routes the M40 and A34 nearby Littlemore offers excellent road connections to major centres across the region, while Littlemore also sits between the Cotswolds and the Chiltern Hills Areas of Outstanding Natural Beauty. Each home at Newman Place brings all the eco efficiency of a brand-new home as well as a layout where light and space flows. From exquisite finish and detail of the kitchen equipped with A-rated appliances to the design statement of the wide-plank flooring, your home has been thought-out to the last detail.
Financials
Length of lease: 125 years
Annual service charge: £1740
Service charge review period:
Yearly Council tax band: (B £1757.65, C £2008.74)
As a shared owner, you’ll pay rent for the percentage of the property that you don’t yet own. Every year, we calculate your new rent and will write to you to confirm what your new rent will be. Depending on your new home, you’ll also pay a service charge. This covers a proportion of the cost for the services, management and maintenance of the your building and development where you live. Your lease will detail what’s down to you in terms of repairing and maintaining your home.
