Hanstead Park by SOWN Shared Ownership in St Albans

Hanstead Park is a fabulous new development, perfectly placed within the thriving Hertfordshire village of Bricket Wood, close to excellent transport links and with easy access to Watford, St Albans and London. It also benefits from a range of local amenities, including nursery and primary schools, shops, post office, medical centre and dental practice. Further to this, a couple of great local pubs, a community centre and a social club, plus a host of church and community activities add to the vibrancy of the village.

Being located just four miles from the centre of St Albans and five miles from Watford opens up an immense range of opportunities for shopping, leisure and entertainment. What’s more, the woodland, wildlife and green open spaces all around, provide a wonderful landscape for a range of outdoor activities. Commuters will also find superb transport links, with both the M25 and M1 nearby, while Bricket Wood train station is within walking distance, from where trains to London Euston take 35 minutes via Watford Junction.



ELIGIBILITY

The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright.

At Hanstead Park you can buy a minimum 40% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for shared ownership you would need to meet the following criteria:

• Your household income does not exceed £80,000 (outside of London) and £90,000 (inside of London)
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.