Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

Read more about Shared ownership (Opens in new window)

Elm Farm, 2-3 bed homes


Wilde Street, Beck Row, Bury St Edmunds, West Suffolk, IP28 8AS

Shared ownership

Starting prices

25% share from
£45,625
Full price
£182,500
Minimum deposit
£9,125
Monthly rent
£342

Overview

Welcome to Elm Farm, a brand new development in Beck Row, Suffolk, offering a desirable collection of two and three bedroom houses are available through the Shared Ownership scheme, making them all the more affordable and ideal for first-time buyers.

If you dream of an enviable, rural lifestyle surrounded by the stunning Suffolk countryside, whilst still being close to thriving, historic towns like Bury St. Edmunds and Newmarket, then Elm Farm is the perfect place for you and your family. Whether it’s the prospect of spending long, lazy weekends exploring the natural beauty of the local nature reserves, or immersing yourself in the multitude of cultural or leisure pursuits this wonderful part of the country has to offer, you certainly won’t be disappointed when you’re handed the keys to your new home at Elm Farm.


Local area information

Elm Farm is a great place to raise a family, ticking all the boxes needed to satisfy the demands of a contemporary lifestyle. The village of Beck Row itself offers its own local amenities, a general store, newsagents, hair salon, Aspal Close Nature Reserve, Nursery School and Primary Academy, with Mildenhall market town only two miles away, with its weekly outdoor market dating back to the 15th century, leisure centre, cricket ground and cycling club. Whilst slightly further afield is the fabulous Thetford Forest Park.

The bustling market town of Newmarket is just a 20 minute drive away – as well as being a major local business cluster, it’s also generally considered to be the birthplace and global centre of thoroughbred horse racing and a potential World Heritage Site, with racing events there dating as far back as 1174.

Newmarket also offers a number of good primary schools, which feed into the 11–18 Newmarket Academy, a co-educational secondary school and sixth form with academy status. The picturesque, historical town of Bury St. Edmunds is only half an hour away, with its wealth of award-wining restaurants, fantastic shopping, art and culture, and stunning parklands. Elm Farm offers families a superb lifestyle infrastructure set against the backdrop of the glorious English countryside.

• Newmarket: approx. 13 miles
• Bury St. Edmunds: approx. 17 miles
• Cambridge: approx. 26 miles
• London Stansted Airport: approx. 46 miles
• M25 Orbital: approx. 66 miles
• A11: approx. 4.5 miles


Plot availability

Plot number 5
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 45%
Full market price £190,000
Monthly rent £239
Monthly service charge £31
Ownership Leasehold

Plot 5 is a lovely two-bedroom semi-detached house with a large south easterly facing garden.

Downstairs the house benefits from a modern U shaped kitchen with integrated kitchen appliances, a living/dining room with French doors out on to the garden, a guest cloakroom and understairs storage.

Upstairs are two bedrooms with both benefiting from two sets of windows and a built-in wardrobe to the master bedroom. There is also a well appointed family bathroom.

Outside is a lovely south easterly facing garden and two parking spaces.

Plot number 1
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 45%
Minimum share price £103,500
Full market price £230,000
Monthly rent £290
Monthly service charge £31
Ownership Leasehold

Plot 1 is a lovely three-bedroom semi-detached house with a large south easterly facing garden.

Downstairs the house benefits from a modern U shaped kitchen with integrated kitchen appliances and French doors on to the garden, a double aspect living/dining room, a guest cloakroom and understairs storage.

Upstairs are two double bedrooms and one single, with a built-in wardrobe to the master bedroom. There is also a well appointed family bathroom.

Outside is a lovely south easterly facing garden and two parking spaces.


FAQ's

Prices are not available yet for Elm Farm but you can register your interest to be notified when prices become available.

Plot breakdowns are not available yet for Elm Farm but you can register your interest to be notified when prices become available.

It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.

An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.

Leasehold, which is essentially the contract for the share you've bought.

It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.

Your solicitor can help you with this.

Yes, but it all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Orbit
Shared ownership

Starting prices

25% share from
£45,625
Full price
£182,500
Minimum deposit
£9,125
Monthly rent
£342