Marham Park, St Edmunds

2 bedroom homes in 27 Tudor Road, Bury St. Edmunds, IP32 6FJ, Bury St Edmunds, ip326fj, IP32 6FJ

Tenure Shared ownership
What is Shared ownership?
Availability Available
Min share price from £84,000 for 40% share
Full price from £210,000
Min deposit from TBC
Monthly rent from £289
Service charge from £84
Bedrooms 2
Bathrooms 1
Parking 1
Wheelchair accessibility No
Pets No
Energy efficiency rating B

Shared Ownership is a type of affordable home ownership when a purchaser takes out a mortgage on a share of a property and pays rent to a landlord on the remaining share.

For example, someone might buy a 50 per cent share in a property and pay rent to the landlord on the remaining 50 per cent. Purchasers then have the opportunity to ‘staircase’ up their share of the property, gradually increasing the proportion of their home that they own outright and therefore paying less rent on the remaining portion, until they own 100 per cent of their home.

Overview

New Home
Close To The A14 And Mainline Station
Large Open Plan Reception
Two Bedrooms
One Bathroom
Double Glazed
Central Heating
40%-75% Shares Available

 

THE PROPERTY
** OPEN HOUSE SATURDAY 1ST JUNE 2019 12:00-14:00 - BY APPOINTMENT ONLY ** In the newly constructed Marham Park estate, you will find this brand new two-bedroom flat. This second floor flat offers a large open plan (21'9"x12'8") living room with a modern fitted kitchen. The Hallway leads to two double bedrooms, the master bedroom (10'10"x10'00") and the second bedroom (10’9"x7'2") and a brand new bathroom complete the property.

SECOND FLOOR
The second floor allows access to the rest of the building as well as access to the rear communal garden.

OUTSIDE
To the front of the property, there is one allocated parking space and a garage per flat. To the rear of the property, there is a communal garden that is laid to turf and has a high wooden fence to the boundary.

LOCAL AREA
Marham is a thriving new neighbourhood close to the market town of Bury St Edmunds. With 35 acres of country park connected by a network of footpaths and cycle paths, you can enjoy the convenience of modern living in an idyllic village setting. Marham Park benefits from two bus services providing easy access between Bury St Edmunds, Mildenhall and Newmarket. Closely connected to the A14, Marham Park is centrally located between Cambridge and Ipswich, ideal for commuters. Bury St Edmunds historic town centre has a variety of boutique shops, fantastic bars and restaurants, the stunning Abbey Gardens and Cathedral grounds are 2.2 miles away. Local schooling is available at Sebert Wood Primary and Sybil Andrews Academy, with West Suffolk College close by. Transport links are excellent with access to the A14 and London, Cambridge and Norwich linked trains area accessible on a regular basis from the town’s mainline station.

SHARED OWNERSHIP
Shared ownership provides an affordable way for you to become a home owner, by buying a share in a new home and paying a subsidised rent on the remaining share. You will then have opportunity to purchase further shares in your home in the future up to 100%, which we call "staircasing", as further shares are purchased the rent reduces accordingly

EQUITY SHARES & RENT
*Price Marketed Is Based On 75% Shared Ownership* BREAK DOWN OF EXAMPLES OF OTHER SHARE AMOUNTS AVAILABLE, RENT AND OTHER COSTS IN ADDITION TO YOUR MORTGAGE PAYMENT BASED ON FULL MARKET VALUE OF £210,000 :- 40% share (£84,000) Rent £288.75pcm 50% share (£105,000) Rent £240.63pcm 75% share (£157,500) Rent £120.31pcm You will pay a service charge which is £1012.06 per annum which includes buildings insurance.

GENERAL INFORMATION
All parties will be required to discuss financial pre-qualification and shared ownership eligibility with a dedicated and specialised team at the Mortgage Advice Bureau prior to viewings being confirmed.

SAGE HOUSING
Sage Housing is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Housing please visit www.sagehousing.co.uk

 

 

Local area information

Marham is a thriving new neighbourhood close to the market town of Bury St Edmunds. With 35 acres of country park connected by a network of footpaths and cycle paths, you can enjoy the convenience of modern living in an idyllic village setting. Marham Park benefits from two bus services providing easy access between Bury St Edmunds, Mildenhall and Newmarket. Closely connected to the A14, Marham Park is centrally located between Cambridge and Ipswich, ideal for commuters. Bury St Edmunds historic town centre has a variety of boutique shops, fantastic bars and restaurants, the stunning Abbey Gardens and Cathedral grounds are 2.2 miles away. Local schooling is available at Sebert Wood Primary and Sybil Andrews Academy, with West Suffolk College close by. Transport links are excellent with access to the A14 and London, Cambridge and Norwich linked trains area accessible on a regular basis from the town’s mainline station.

Status Plot No. Floor Beds Min share price Eligibility
Available 19 Ground 1 £68,000 View details
Available 18 Ground 2 £84,000 View details
Available 21 Ground 2 £84,000 View details
Available 24 Ground 2 £84,000 View details

FAQ's

Min share price from: £68,000 for a 40% share
Full price from: £170,000
Monthly rent from: £234
Bedrooms: 1
Bathrooms: 1

There are 4 available ranging from £68,000 for a 40% share to £84,000 for a 40% share.

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.

No, but it all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.
Illustration by: James Halsall

Register Interest

Register your interest to be contacted by a housing provider. You will need to provide basic eligibility criteria during the register interest process.

Marham Park, St Edmunds

2 bedroom homes in 27 Tudor Road, Bury St. Edmunds, IP32 6FJ, Bury St Edmunds, ip326fj, IP32 6FJ

Tenure Shared ownership
What is Shared ownership?
Availability Available
Min share price from £84,000 for 40% share
Full price from £210,000
Min deposit from TBC
Monthly rent from £289
Service charge from £84
Bedrooms 2
Bathrooms 1
Parking 1
Wheelchair accessibility No
Pets No
Energy efficiency rating B

Shared Ownership is a type of affordable home ownership when a purchaser takes out a mortgage on a share of a property and pays rent to a landlord on the remaining share.

For example, someone might buy a 50 per cent share in a property and pay rent to the landlord on the remaining 50 per cent. Purchasers then have the opportunity to ‘staircase’ up their share of the property, gradually increasing the proportion of their home that they own outright and therefore paying less rent on the remaining portion, until they own 100 per cent of their home.

Location

Housing Provider

Trusted by

Southern Complete Moves Mayor or London National Housing Federation Moat Homes