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Old Stowmarket Road is a new collection of beautifully crafted 2 bedroom homes in the historic village of Woolpit.
This idyllic location provides all the essential amenities on your doorstep, with nearby towns including Stowmarket and Bury St Edmunds offering a great range of shops, bars and restaurants, together with a leisure centre, cinema and golf club. Parents are also well catered for with highly-rated schools close to the community, including Woolpit Primary School and Elmswell Community Primary School.
Commuters will benefit from easy access to local towns and cities via two nearby train stations or the A14, which runs to the north of the village.
Homes at Old Stowmarket Road will be ready to move into from Winter 2021.
Price breakdown:
• Minimum share: 25%
• Minimum share value: £65,000
• Full market value: £260,000
• Service charge per month: £54 per month
• Rent on un-owned share: £447 per month
• 5% deposit required: £3,250
• Anticipated Household Income to purchase 25%: £23,267
Key Features:
• Good quality flooring
• Turf to rear garden
• Allocated parking
• Close to train station
• Integrated kitchen appliances
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 Old Stowmarket Road, you’ll need to:
• Have a gross household income of no more than £80,000 per annum
• Be unable to purchase a suitable home to meet your housing needs on the open market
• Not already own a home or you will have sold your current home before you purchase
• 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 representative and do not show actual homes at Old Stowmarket Road
