Shared Ownership
This superb modern home is available to buy from as little as £137,500 with a 50% share!
Situated in the popular and well connected area of Ely, this semi detached home offers spacious and practical accommodation. The ground floor comprises a welcoming entrance lobby, a generous living room, a bright and spacious kitchen/dining room, a useful downstairs WC and additional storage. Upstairs, the property offers three well proportioned bedrooms and a contemporary family bathroom.
Charolais Lane forms part of a modern residential development on the outskirts of Ely, offering easy access to an excellent range of local amenities. Ely's historic city centre is renowned for its magnificent cathedral, independent shops, cafés, restaurants and riverside walks, while supermarkets, schools, leisure facilities and healthcare services are all conveniently close by, making this a fantastic location for everyday living.
For commuters, Ely railway station provides direct services to Cambridge, London King's Cross, Peterborough and Norwich, whilst the nearby A10 and A142 offer excellent road links to Cambridge, Newmarket and the wider region. The combination of modern living, excellent transport connections and the charm of one of Cambridgeshire's most desirable cities makes this an outstanding place to call home.
PRICING & AFFORDABILITY
Full Market Value: £275,000
50% Share Price: £137,500 (rent £460.18pcm)
Minimum 5% Mortgage Deposit (50% share): £6,875
Approximate Service Charges: £14.18pcm*
Lease: 987 years remaining
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.
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.
*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.
