Shared Ownership
This brand new home is available to buy from as little as £43,750 with a 25% share!
Nestled amidst picturesque open fields, Hollinwell Heath offers the perfect blend of tranquillity and convenience. Located in Kirkby-in-Ashfield, Hollinwell Heath puts you within easy reach of schools, shops, and local amenities, as well as the M1, A38, and A60, providing seamless access to Nottingham, Sutton-in-Ashfield, and beyond.
The Kerry house type is a brand new semi detached property ideal for first time buyers. The accommodation features an entrance hall and a spacious lounge to the front, and a modern kitchen/dining room to the rear. The first floor in each home has a contemporary three-piece bathroom and two bedrooms.
All this is complemented by flooring in the wet areas, gas central heating, smoke detectors, stylish UPVC doors & windows, neutral decor throughout, a garden and off-road parking,
PRICING & AFFORDABILITY
Approximate Size 654 sq ft
Full Market Value: £175,000
25% Share Price: £43,750 (rent £300.78pcm)
50% Share Price: £87,500 (rent £200.52pcm)
75% Share Price: £131,250 (rent £100.26pcm)
Minimum 5% Mortgage Deposit (25% share): £2,188
Approximate Service Charges: £23.22 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 Hollinwell Heath you can buy a minimum 10% 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:
• 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.
