Shared Ownership
This brand new home is available to buy from as little as £70,000 with a 25% share!
Linby Meadows is an exciting new development in the attractive Nottinghamshire village of Linby, offering a collection of modern homes available through Shared Ownership. Ideally positioned around seven miles north of Nottingham, the development combines contemporary living with a semi-rural setting, making it an excellent choice for first time buyers, couples and families looking to put down roots in a well connected location.
The nearby town of Hucknall provides an excellent range of everyday amenities, including supermarkets, independent shops, cafés, restaurants and leisure facilities. For those who enjoy the outdoors, the surrounding area offers plenty of green space, countryside walks and woodland, with Bestwood Country Park also within easy reach.
Linby Meadows is particularly well placed for commuters. The A611 and M1 provide convenient road connections towards Nottingham, Mansfield, Derby and Sheffield, while nearby Hucknall railway station offers direct services into Nottingham via the Robin Hood Line. Hucknall is also served by Nottingham’s tram network, providing another convenient option for travelling into the city and beyond.
The Trent is a stylish three bedroom home offering well planned accommodation ideal for modern family life. The ground floor features a welcoming entrance hall, a contemporary fitted kitchen and a spacious living/dining area with doors opening onto the rear garden, creating a bright and sociable space for relaxing and entertaining. A convenient downstairs WC completes the ground floor. Upstairs, the property offers three bedrooms alongside a modern family bathroom. Externally is parking and a garden.
PRICING & AFFORDABILITY
Full Market Value: £280,000
25% Share Price: £70,000 (rent £481.25pcm)
50% Share Price: £140,000 (rent £320.83pcm)
75% Share Price: £210,000 (rent £160.42pcm)
Minimum 5% Mortgage Deposit (25% share): £3,500
Approximate Service Charges: £19.07 pcm*
Shared Ownership Lease: 990 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 Linby Meadows, advertised shares start at 25% (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.
