6 x Brand new 2 and 3 bedroom SHARED OWNERSHIP Semi Detached Houses with prices from £110,000 which represents a 50% share of the full market value of £220,000 for a 2 bedroom property. The properties feature accommodation over two levels. Downstairs has a kitchen/dining room area with hallway, living room, Cloakroom/ WC and under stairs storage space. Upstairs consists of two double bedrooms (a further smaller bedroom in the three bed homes) and a family bathroom. Externally there is a rear garden, off-road parking for two cars and patio area. A foot ferry operates from Bawdsey to Felixstowe. The nearest train station is in Melton. The parish benefits from a good number of community facilities with a school, church, recreation ground with tennis courts and village hall.

THE STREET, BAWDSEY


WHAT IS SHARED OWNERSHIP?
Shared ownership could be your step on to the property ladder. This home ownership scheme allows you to purchase a share in your home and rent the remaining unowned share.

HOW DOES SHARED OWNERSHIP WORK?
You buy an initial share of between 50% and 75% of the property's full value and pay a subsidised rent on the remaining share you don't own. You may purchase further shares up to 100% of the full property value, as your circumstances change, although there is no obligation to do so. You will be asked to speak with a Financial Advisor to assess what share you can buy, ensuring this is both affordable and sustainable, based on your circumstances.
Shared ownership can be cheaper than renting a property privately as the mortgage cost and subsidised rent usually add up to less than the equivalent rental payments to a landlord.


EXAMPLE

. Property Purchase price £220,000

. You purchase a 50% share = £110,000 funded through a combination of your own deposit e.g. (£5,500) and mortgage (£104,500)

. You rent the remaining 50% share = £110,000 x 2.5% rent = rent of £252.08 per month

. 75% is the maximum share price which you can initially purchase.

. There is an option to purchase up to 100% of the property value at a later point should you wish to do so. The property has a buy-back clause and you will not own the freehold as this property is in a designated protected area.

. You enjoy all the benefits of living in a brand new home with an open market value of £220,000

. You can stay in the property for as long as you wish and can sell the share you own at any time. You make the decisions.

To be eligible for these homes you will need to be approved by and have a local connection to Bawdsey or the surrounding parishes within East Suffolk.

Please speak to one of our advisors to find out more about owning a share in one of these fabulous properties.

SPECIFICATION
Plots 3 & 4 Floor Areas

Kitchen/breakfast 6.6 & 7.1 sqm

Living Room 15.1 sqm

Bedroom 1 – 11.5 sqm

Bedroom 2 –10.4 sqm

Bedroom 3 – 6.9 sqm

Plots 5 & 6 Floor Areas

Kitchen/breakfast 11.6sqm

Living Room 12.9 sqm

Bedroom 1 – 12.2 sqm

Bedroom 2 – 11.7 sqm

*All floor areas are approximate

Plots 7 & 8 Floor Areas

Kitchen/breakfast 9.5 &6.4 sqm

Living Room 13.7 sqm

Bedroom 1 – 11.6 sqm

Bedroom 2 – 10.0 sqm

Bedroom 3 – 7.3 sqm

*All floor areas are approximate