1-bedroom apartment available with Shared Ownership with shares starting from 25%. Situated on the ground floor with a Juliet balcony to the living room.

Description

SHARED OWNERSHIP OPPORTUNITY

PURCHASE PRICES FROM £50,000
*For a minimum of a 25% equity share
True market value prices from £200,000
2.75% charged on the unsold equity

The exciting opportunity has arisen to own a shared ownership homes on the popular Trelawny Place development in Felixstowe.

All homes have been designed and built to the highest standard by renowned developer Persimmon. Due to high demand, earlier viewings are advised. When owning a shared ownership home through Park Properties Housing Association, purchasers can staircase at any time.

Set in the coastal town of Felixstowe, with beautiful local beaches nearby plus easy access to Ipswich town centre, you'll get the best of both worlds living here.

As well as being a popular seaside resort, Felixstowe is a busy container port. These very different aspects of life in the town mean that there are plenty of facilities for you to make the most of, hand in hand with excellent road and rail transport links. The A14 is the key route in and out of the town, connecting with the A12 just outside Ipswich. For a quieter landscape you can head inland to cross the River Deben at Woodbridge. From there the Suffolk Coast & Heaths Area of Outstanding Natural Beauty stretches to the north taking in the classic seaside towns of Aldeburgh and Southwold.

So what is shared ownership?

Shared Ownership is an alternative homeownership scheme which makes it easier for eligible purchasers to get on the property ladder.

What is the eligibility criteria for Shared Ownership?

For those looking to buy a Shared Ownership home, there are some eligibility requirements that must be met. The general eligibility criteria for Shared Ownership is as follows:

You must be at least 18 years old.
Outside of London your annual household income must be less than £80,000.
In London, your annual household income must be less than £90,000.
You cannot own another home. Shared Ownership purchasers are often first time buyers but if you do already own another property (either in the UK or abroad), you must be in the process of selling it.
You should not be able to afford to buy a home suitable for your housing needs on the open market.
You must show you are not in mortgage or rent arrears.
You must be able to demonstrate that you have a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home during your Shared Ownership credit check.
Additionally, you will generally need between 5-10% of the equity share that you’re purchasing as a deposit, and should have access to at least £4,000 to cover the other costs of buying a property. This is a guideline figure and the actual amount may vary.

*. *CGI images used are for illustrative purposes only. *All interest is subject to an affordability and Shared Ownership criteria *Staircasing is subject to affordability and mortgages etc.

Location

Situated near local amenities, retail and supermarkets

0.8 miles to Felixstowe Train Station

Square Footage: 581 sq ft
Leasehold with approximately 999 years remaining.


Additional Info

Estimated Service Charge: TBC
Estimated rent: 2.75% of un owned share
Shares available from 25% to 75%
EPC Rating: PEA B
Tenure: Leasehold
Service Charge: TBC
Council Tax Band:TBC