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)

Marham Park, St Edmunds, 2 bed homes


27 Tudor Road, Bury St. Edmunds, IP32 6FJ, Bury St Edmunds, West Suffolk, IP32 6FJ

Shared ownership

Starting prices

40% share from
£84,000
Full price
£210,000
Monthly rent
£289
Monthly service charge
£84

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.


Plot availability

Plot number 19
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 40%
Minimum share price £68,000
Full market price £170,000
Monthly rent £234
Monthly service charge £84
  • 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
Plot number 18
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 40%
Minimum share price £84,000
Full market price £210,000
Monthly rent £289
Monthly service charge £84
  • 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
Plot number 21
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 40%
Minimum share price £84,000
Full market price £210,000
Monthly rent £289
Monthly service charge £84
  • 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
Plot number 24
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 40%
Minimum share price £84,000
Full market price £210,000
Monthly rent £289
Monthly service charge £84
  • 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

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.

Housing Provider

Sage Housing
Shared ownership

Starting prices

40% share from
£84,000
Full price
£210,000
Monthly rent
£289
Monthly service charge
£84