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%.

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Bower Place, 2-3 bed homes


Newton Close, Cambridge, South Cambridgeshire, CB24 8AQ

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Shared ownership

Starting prices

25% share from
£78,750
Full price
£315,000
Minimum deposit
£3,938
Monthly rent
£541
Monthly service charge
£68

Overview

Sage Housing will contribute a maximum of 2.5% of a 40% share of the full price of the property.*
In addition, reserve now for £99 and receive £500 towards your legal fees.**

Modern brand new two and three bedroom homes available for Shared Ownership, part-buy part-rent near the popular village of Cottenham, Cambridge.

Become part of this thriving new community of just 50 new homes, surrounded by open countryside and within a mile of local amenities at Cottenham with a local greengrocer, pharmacy, bakery and supermarket, as well as a primary and secondary school and a gp's surgery. If you are wanting more choice the beautiful historical city of Cambridge with a riverside setting is less than 8 miles away, offering a variety of high street stores, a bustling market selling local produce, and plenty of of places to eat and drink.  Enjoy a punt along the River Cam, a bicycle ride taking in the atmosphere of the city or a stroll around the Botanical Gardens all on your doorstep! 

Waterbeach railway station is a 12 minute drive away with connections to Cambridge in 6 minutes, Ely in 10 minutes and London Kings Cross in just 59 minutes, close to the A14 and A10 with the A1 (m) within 30 minutes. Stansted Airport is a comfortable 40 minutes drive away. 

 

About your Home - 3 Bedroom – set over approx. 95.8 sqm / 1031 sq ft

Your modern new build 3 bedroom home benefits from a 10 year NHBC warranty and is fitted with a contemporary white kitchen, with integrated Zanussi appliances: electric oven, gas hob with stainless steel splash back and chimney cooker hood. There is a 1.5 bowl sink with mixer tap, and space for a fridge freezer and washing machine. The bathroom and cloakroom have white sanitary ware by Roca with white ceramic tiles to basin splashback and full height around bath, which includes a glass shower screen. Neutral carpet is provided throughout with hard wearing vinyl flooring to the kitchen, bathroom and cloakroom.

Upstairs, along with the spacious family bathroom, your home offers generous sized bedrooms: Bed 1 approx. 2.7m x 4.7m; Bed 2 approx. 2.6m x 4.8m; Bed 3 approx. 2.2m x 3.3m. Downstairs there is cloakroom and spacious living/dining room set over approx. 4.9m x 4.8m with doors opening onto the good sized turfed and paved garden which has its own shed, and a separate kitchen set over approx.. 2.8m x 3.6m. Private parking is adjacent to your home.

 

Pricing and affordability

Full Market Value £385,000

25% share £96,250

Monthly rent £661.72

Service charge £70


50% share £192,500, monthly rent £441; 60% share £231,000, monthly rent £352; 75% share £288,750, monthly rent £221

 

About your Home - 2 Bedroom – set over approx. 79.2 sqm / 852 sq ft

Your newbuild 2 bedroom home benefits from a 10 year NHBC warranty and is fitted with a contemporary white kitchen, with integrated Zanussi appliances: electric oven, gas hob with stainless steel splash back and chimney cooker hood. There is a 1.5 bowl sink with mixer tap, and space for a fridge freezer and washing machine. The bathroom and cloakroom have white sanitary ware by Roca with white ceramic tiles to basin splashback and full height around bath, which includes a glass shower screen. Neutral carpet is provided throughout with hard wearing vinyl flooring to the kitchen, bathroom and cloakroom.

Upstairs, along with the spacious family bathroom, your home offers generous sized bedrooms: Bed 1 approx. 4.7m x 4.3m; Bed 2 approx. 2.5m x 4.8m; Downstairs there is cloakroom and spacious living/dining room set over approx. 4.7m x 4.3m with doors opening onto the good sized turfed and paved garden which has its own shed, and a separate kitchen set over approx. 2.7m x 2.6m. Private parking is adjacent to your home.

 

Pricing and affordability

Full Market Value £315,000

25% share £78,750

Monthly rent £541

Service charge £68


50% share £157,500, monthly rent £361; 60% share £189,000, monthly rent £289; 75% share £236,250, monthly rent £180

 

Shared Ownership
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright. 

At Bower Place, you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%).  You will need a minimum 5% deposit (of the share value) for mortgage purposes, plus monies to pay for solicitor fees, moving costs & furnishings. When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

Sage Incentives T&C's

*Offer only valid on selected plots, other plots are available. Terms and conditions apply. **The legal cost contribution will only be made if a recommended solicitor’s is used. The purchase is subject to exchange of contracts by 9th April 2020 and legal completion by 30th April 2020. Offer valid on selected plots. Terms and conditions apply.

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


Local area information

The development will become a thriving community of just 50 new homes. Surronded by open countryside and within a mile of local ameneties, Oakington is less than 8 miles from Cambridge.

Waterbeach railway station is a 12 minute drive away with connections to Cambridge in 6 minutes, Ely in 10 minutes and London Kings Cross in just 59 minutes, Close to the A14 and A10 with the A1(m) within 30 minutes. Stansted Airport is a comfortable 40 minutes drive away. 


Plot availability

Plot number 31
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £96,250
Full market price £385,000
Monthly rent £662
Monthly service charge £70
Ownership Leasehold

Modern white kitchen with oven, hob and extractor 

Carpet to bedrooms and living areas

Downstairs cloakroom 

Over-bath shower with glass screen 

Private garden with shed

Plot number 30
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £96,250
Full market price £385,000
Monthly rent £662
Monthly service charge £70
Ownership Leasehold

Modern white kitchen with oven, hob and extractor 

Carpet to bedrooms and living areas

Downstairs cloakroom 

Over-bath shower with glass screen 

Private garden with shed


FAQ's

Min share price from: £96,250 for a 25% share
Full price from: £385,000
Minimum deposit from: £3,938
Monthly rent from: £662
Bedrooms: 3
Bathrooms: 1

There are 2 available ranging from £96,250 for a 25% share to £96,250 for a 25% 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.

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

Housing Provider

Complete Moves
Shared ownership

Starting prices

25% share from
£78,750
Full price
£315,000
Minimum deposit
£3,938
Monthly rent
£541
Monthly service charge
£68