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Shared Ownership Luxury 2 Bedroom Apartments in Suffolk
Outstanding two bedroom apartments situated adjacent to the train station in the heart of the historic market town, Bury St Edmunds. These spacious apartments feature open plan living spaces with floor to ceiling windows, allowing light to flood in. Each living space benefits from a contemporary kitchen finished with Electrolux appliances and coordinated upstand and worksurface. Throughout the apartments, good quality flooring is laid and a three piece bathroom featuring stylish large format tiling and a glass shower screen. Each apartment also benefits from a video entry phone system. Outside as well as having one allocated parking space per apartment, there is also secure cycle storage.
Key features:
• Electrolux appliances
• Close to town centre
• Close to train station
• Video entry phone security system
• Allocated parking
• NHBC 12 year warranty
Price breakdown:
Minimum share: 25%
Minimum share value: £60,000
Full market value: £240,000
Service charge per year: £1,119.03
Monthly rent on un-owned share: £412.50
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 Station Hill, 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
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.
