House For Sale £115,500
New Breck Road, Elmswell, Bury St Edmunds, IP30

SHARED OWNERSHIP (Advertised price represents 35% share. Full market value £330,000). A great chance to buy a spacious, family home. This recently-constructed, semi-detached property has a cloakroom just off the entrance hallway, a kitchen/dining room with sleek, white units and a reception room with patio doors that open onto a good-sized rear garden. On the first floor is a main bedroom with en-suite shower room plus a second comfortable double bedroom, a smaller third bedroom and a naturally-lit bathroom. Well insulated walls, roof and floor, high performance glazing and a modern gas central heating system have resulted in a very good energy-efficiency rating. The A14 offers an easy route to Cambridge or Ipswich as well as access to many of the regions other major roads. Elmswell Railway Station is within walking distance or a brief cycle ride and Thetford Forest, which offers forty six thousand acres of outside space to explore, is around a half-hour drive away (Google Maps).

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [HERE; ]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Clarion.
Tenure: Leasehold (125 years from 2020).
Minimum Share: 35% (£115,500). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £571.18 per month (subject to annual review).
Service Charge: £49.30 per month (subject to annual review).
Guideline Minimum Income: Dual - £39,000 Single - £45,200 (based on minimum share and 10% deposit).
Council Tax: Band C, Mid Suffolk District Council. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone.

WHAT IS SHARED OWNERSHIP ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and Homes England outside of London.

IS SHARED OWNERSHIP FOR YOU ?

The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.