SHARED OWNERSHIP
Victoria Gate
Victoria Gate, Northampton, Northampton, West Northamptonshire, NN5 5DY
Resale Shared Ownership
(Share Price (50%) - £85,000
Full Value Price £170,000
(Share Price (50%) - £85,000
Full Value Price £170,000
1 Bedrooms
1/16
SHARED OWNERSHIP
Victoria Gate
Victoria Gate, Northampton, Northampton, West Northamptonshire, NN5 5DY
Resale Shared Ownership
(Share Price (50%) - £85,000
Full Value Price £170,000
(Share Price (50%) - £85,000
Full Value Price £170,000
1 Bedrooms
Property reference number: 1639014
This fantastic home is located a short walk from Northampton Train Station serving as a gateway to major cities including London, Birmingham and beyond.
The local area has plenty of nearby amenities, including a range of restaurants and shops in the Town Centre walking distance from your front door. Victoria Park is located right outside the property, offering a serene escape and walks along the River Nene.
- Nearest station: Northampton Train Station (0.4 miles)
- Bus routes nearby: 41, 33
The property comprises:
- Entrance: Hallway with video entry system and two storage cupboards. Beige carpet.
- Living room: Spacious open-plan living area with lots of natural light through floor-to-ceiling windows and a Juliette balcony overlooking the park. Beige carpet.
- Kitchen: Grey matte-finish units with a stone-effect worktop stainless-steel splashback and integrated appliances. Grey tile-effect vinyl flooring.
- Bedroom: Double bedroom with floor-to-ceiling window, Juliette balcony overlooking the park. Beige carpet.
- Bathroom: White suite with grey tiled flooring. Partial tiling around the bath with overhead shower.
- Outside: Private allocated parking space, secure cycle 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 Resale 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: £100.00
• Ground rent review period: Reviewed every 25 years and will increase by 100%.
• Annual service charge amount: £1,372.20
• Service charge review period: Annually
• Council tax band: B
• Remaining lease term: 121 years
• Annual ground rent amount: £100.00
• Ground rent review period: Reviewed every 25 years and will increase by 100%.
• Annual service charge amount: £1,372.20
• Service charge review period: Annually
• Council tax band: B
*Financial information correct as of 25.10.2023
Financials*
Full Value
£170,000
Share Price
£85,000
Share Value
50%
Monthly Cost
£762
Monthly Mortgage
£459
Monthly Rent
£188
Monthly Service Charge
£114
Minimum Household Income
£25,000
Maximum Household Income
£80,000
Deposit Required
£8,500
*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, Northampton, Northampton, West Northamptonshire, NN5 5DY Open in Google Maps
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