Newlands Park by Legal & General Affordable Homes in Manningtree

Welcome to Newlands Park

A charming collection of 2 bedroom Shared Ownership homes at Newlands Park beautifully situated in Mistley, Essex and within each reach of Manningtree. 

Newlands Park is a thriving community with a selection of its own independent shops, a post office and many restaurants and pubs to unwind in. With great schools nearby, a village hall and green, Newlands Park is the perfect place to put down roots. 

Every home has been beautifully built to offer everything you need for modern living while enjoying the surrounding open space. Contemporary matt kitchens with chrome handles and under unit lighting as well as NHBC 12 year Build Warranty gives you peace of mind as you settle into your new home. 

Legal & General Affordable Homes is offering a unique opportunity to purchase a new home here through Shared Ownership. Thanks to this scheme, you can own your home with a lower deposit than is required to buy outright or with other buying schemes and with lower monthly payments.

The first phase of homes at Newlands Park will be ready to move into from Autumn 2021, with the next phase to be released in Spring 2023.

For more information and to stay informed of updates please register your interest.

• Price breakdown:
• Full market value: £290,000 - £335,000
• 40% Share Value: £116,000 - £134,000
• 5% deposit of 40%: £5,800 - £6,700
• Rent on unowned share: £399 - £461 per month
• Service charges: £60- £65 per month
• Anticipated Household income: £48,434 - £54,365
• Key Features:
• Indesit electric oven, ceramic hob & stainless steel chimney hood
• Indesit integrated fridge/freezer
• Turf to rear garden
• Paved patio area
• Two parking bays per property
• NHBC 12 Year Building Warranty

WHAT IS SHARED OWNERSHIP?
Shared Ownership is a more affordable way to have the security and stability of owning your own home. Shared Ownership is a government backed part buy/part rent scheme designed to help you take that first step on the property ladder. The scheme enables buyers to purchase a share of the value of the home – this is usually between 25 to 75 percent of the value of the property – and pay a subsidised rent on the remaining portion. You have the option to buy a bigger share in the property at a later date (known as Staircasing).

ELIGIBILITY CRITERIA

To be eligible for a home at Newlands Park, you'll need to:

• Have a combined household income under £80,000 per annum
• Not already own a property, or part of a property, at the time of completing on your purchase
• Be unable to purchase a suitable home to meet your housing needs on the open market
• Have a minimum of £5,000 to cover the costs of buying a home
• Eligible buyers must also be registered with Help to Buy

If you don’t meet the eligibility criteria for this development, you may still qualify for a shared ownership purchase at one of our others, so take a look at our website for more information.

Images shown are of the Two Bedroom House style at Newlands Park.