SHARED OWNERSHIP
Victoria Gate - Ground Floor
(Share Price (50%) - £105,000
Full Value Price £210,000
SHARED OWNERSHIP
Victoria Gate - Ground Floor
(Share Price (50%) - £105,000
Full Value Price £210,000
Property reference number: 1638971
Victoria Gate is a fantastic 2-bedroom, 2-bathroom duplex with private parking & secure bike storage is available in Northampton. The lease remaining on the property is 121 years.
The duplex flat is within walking distance from the town centre with Northampton station offering good transport links, linking you to London Euston Station in less than an hour.
Local amenities like Iceland, Morrisons, Northampton Hospital, local supermarkets, restaurants and cafes are located less than a 5minute walk away. For leisure & enjoyment, various restaurants, bars, cafes and shops are within walking distance including an abundance of green spaces (parks and recreation centres).
- Nearest Station: Northampton station
The property located on the ground floor comprises:
- Living Room: Spacious lounge with open plan kitchen and white carpeted flooring.
- Kitchen: Wooden white units with light pine granite kitchen worktop with stainless steel backsplash. Integrated appliances. Grey vinyl flooring
- Bedroom one: Double bedroom with a bathroom (partially tiled/painted walls) and cream carpeted flooring.
- Bedroom two: Double bedroom with cream carpeted flooring.
- Bathroom: White suite comprising a large bath with shower head, partially tiled/painted walls and a towel rail. Grey vinyl flooring.
- Outside: private parking & secure bike storage
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.
If you don’t receive this email within an hour of your registration, please check your spam or junk folders and set your spam filter to allow incoming emails from Peabody. If you still haven’t received the email, please contact enquiries@peabodynewhomes.co.uk and our team will be able to help you.
What is Shared Ownership?
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.
Financial information
- Tenure: Leasehold
- Remaining lease term: 121 Years
- Annual ground rent amount: £100 per annum
- Annual service charge amount: £1,307.76
- Service charge review period: Every 25 years during the term. The ground rent will increase by 100%.
- Council tax band: Band B
Financials*
Full Value
£210,000
Share Price
£105,000
Share Value
50%
Monthly Cost
£329
Monthly Rent
£220
Monthly Service Charge
£109
Maximum Household Income
£80,000
Deposit Required
£10,500
*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, St James Park Road, Northampton, North Northamptonshire, NN5 5DY Open in Google Maps