SHARED OWNERSHIP
Victoria Gate - 2 Bed
(Share Price (50%) - £95,000
Full Value Price £190,000
SHARED OWNERSHIP
Victoria Gate - 2 Bed
(Share Price (50%) - £95,000
Full Value Price £190,000
Nearest station: Northampton Train Station (0.4 miles)
Bus routes nearby: 41, 33
The property comprises:
Entrance: Hallway with video entry system and storage cupboard. Cream carpet.
Living room: Spacious open-plan living area with lots of natural light. Cream carpet.
Kitchen: White units with brown worktop stainless-steel splashback and integrated appliances. Brown wood-style flooring.
Bedroom one: Double bedroom with cream carpet.
Bedroom two: Double bedroom with cream carpet.
Bathroom: White suite with grey laminate flooring. Partial tiling around the bath with overhead shower.
Outside: Private allocated parking space, secure cycle storage & communal garden.
What happens after I register my interest?
You will receive an email confirmation that will confirm next steps including how to book a viewing, completing a financial assessment with a mortgage advisor and completing a Shared Ownership Application Form.
Through Shared Ownership you can buy up to 75% of the property, paying a low-cost rent on the remaining unpurchased 'share' of the home. What's more, your mortgage deposit is based on the value of the share you buy, not the full market value, making these homes even more affordable than buying through private sale. With resale properties, you must purchase your first share at the percentage the existing leaseholder owns or more.
Tenure: Leasehold
Remaining lease term: 146
Annual ground rent amount: £100
Ground rent review period: Next review 01/04/2043
Annual service charge amount: £1,307.76
Service charge review period: Annually
Council tax band: B
*Financial information correct as of 01.11.2023
Financials*
Full Value
£190,000
Share Price
£95,000
Share Value
50%
Monthly Cost
£794
Monthly Mortgage
£513
Monthly Rent
£172
Monthly Service Charge
£109
Minimum Household Income
£30,000
Maximum Household Income
£80,000
Deposit Required
£9,500
*The monthly mortgage, monthly rent, minimum household income and deposit required are all guide figures and will vary depending on your personal circumstances and the mortgage you are able to secure. Please note that applicants will be expected to purchase the maximum share that is sustainable for them. Applicants will be required to attend a financial interview with a Mortgage Advisor appointed by Peabody to assess affordability in line with Affordable Homes guidelines set by the HCA/GLA. Speak to a member of the Peabody New Homes team for more details.
Location
Victoria Gate, 63 St James Park Road, Northampton, North Northamptonshire, NN5 5DY Open in Google Maps