3 bedroom semi-detached house

Shared Ownership

This brand new home is available to buy from as little as £73,500 with a 30% share!

Located in the market town of Melton Mowbray, north east of Leicester, Melton Manor is surrounded by countryside, wildlife and culture. Featuring bright, spacious rooms with all modern fixtures and fittings, once you move into your new home at Melton Manor, all you have to do is sit back, relax and enjoy your home. Melton Manor is within a mile of the town’s high street, which has all of the essential amenities you’d expect of a thriving town, and an extensive selection of shopping and entertainment opportunities.

The development is conveniently located less than two miles away from Melton Mowbray railway station which offers direct services to Leicester and Peterborough. For those who prefer to drive, Melton Manor has direct road links to Loughborough, Nottingham and Leicester making travelling or commuting to nearby cities or towns, simple and stress-free.

This brand new end of terrace home has accommodation that includes: entrance hall, an open plan lounge/diner at the back of the house with a separate kitchen at the front, ground floor cloakroom, three bedrooms, bathroom, parking and garden.

PRICING & AFFORDABILITY

Approximate Size 84.5 sq m

Full Market Value: £245,000

30% Share Price: £73,500 (rent £393.02pcm)
50% Share Price: £122,500 (rent £280.73pcm)
75% Share Price: £183,750 (rent £140.36pcm)

Minimum 5% Mortgage Deposit (30% share): £3,675
Approximate Service Charges: £31.43 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 Melton Manor you can buy a minimum 30% 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.

*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.