*** NOW LAUNCHED - BRAND NEW SHARED OWNERSHIP HOMES - AVAILABLE FROM JUST A £6,400 DEPOSIT^ ***
Your opportunity to own a stunning brand new home at Newlands Meadows has arrived. Set within a peaceful semi rural location on the edge of Bedworth, this exciting new development offers an exclusive collection of beautifully designed three bedroom Shared Ownership houses, providing an affordable route into home ownership for first time buyers, growing families and those looking for more space.
Designed for modern family living, each home combines contemporary style with practical layouts, creating bright, spacious interiors that are perfect for everyday life. Surrounded by open green spaces while remaining close to excellent local amenities, Newlands Meadows truly offers the best of both worlds. Bedworth town centre is just a short distance away, with a great selection of shops, supermarkets, cafés and leisure facilities, while nearby Coventry offers an even wider range of retail, dining and entertainment options.
Perfect for commuters, the development benefits from excellent transport links, with easy access to the A444, M6 and surrounding road network. Regular bus services connect Bedworth with Coventry and Nuneaton, while Bedworth railway station provides convenient rail connections to surrounding towns and cities.
Built to the ‘Dallington’ design, this smart and modern home has accommodation that includes: entrance hall, living room, a fabulous kitchen/diner at the back of the house with doors out to the rear garden, a ground floor cloakroom, three bedrooms, bathroom and allocated parking for two cars.
PRICING & AFFORDABILITY
Approximate Size 1,014 sq ft
Full Market Value: £320,000
40% Share Price: £128,000 (rent £440.00pcm)
50% Share Price: £160,000 (rent £366.67pcm)
75% Share Price: £240,000 (rent £183.33pcm)
Minimum 5% Mortgage Deposit (40% share): £6,400
Approximate Service Charges: £62 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 Newlands Meadows advertised shared start from a 40% 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.
LOCAL AREA CONNECTION
Buyers for Newlands Meadows are required to have a local area connection to the Borough of Nuneaton & Bedworth. Evidence of the local area connection will be required as part of the reservation process. This could be in one of the following ways:
• Have lived within the Borough for at least 6 out of the last 12 months, or 3 out of the last 5 years.
• Have immediate family currently living in the Borough who have been residents for at least 5 years or more. Immediate family would normally include parents, adult children, brothers or sisters, provided there are sufficiently close links (e.g., frequent contact, commitment, or dependence). Other family associations, such as grandparents or adoptive parents, may also be considered if sufficiently close links can be evidenced.
• Work permanently in the Borough.
• Give to, or receive support from, a close family member who is resident in the Borough. Applicants will need to supply supporting evidence from a medical professional or social worker.
OTHER INFORMATION
^ Please note the minimum share you can purchase and the minimum deposit required can vary depending on your financial situation and you may be asked to purchase a larger share or increase your deposit, based on your personal circumstances.
*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.
