*ONLY THREE PLOTS REMAINING* A selection of spacious three bedroom family homes available to purchase via Shared Ownership with shares starting from just 40% at £130,000 and a minimum deposit required of £6500 with a monthly rent of £447.
Lucas Place is a new community of Shared Ownership homes with a range of excellent nearby amenities and transport options including a Lidl, local GP, dental practice, leisure facilities, restaurants, pubs and plenty of local shops to enjoy. Perfect for a growing family, there are a choice of well-regarded primary and secondary schools within a mile too.
The brand-new houses combine charming features and everyday conveniences while offering plenty of natural light and neutral décor, waiting for you to design as you wish. Every home has its own private garden, allowing you your own outside space to enjoy throughout the year.
You are perfectly located for the buzz of the city, as Birmingham Moor Street is just 9 minutes away by train. Major roads including the A34 and A41, plus Birmingham’s excellent bus network mean that whether by bike, car or public transport, you are easily connected.
Price example:
Full market value - £325,000
40% Share price - £130,000
Shares available to purchase from - 25-75%
Rent PCM based on a 40% share - £447
Minimum deposit required - £6500
Shared Ownership could be your step onto the property ladder. This home ownership scheme allows you to buy a share in your home and rent the remaining share. Overtime, you can buy more shares in your home until you
own the full 100%.
Ground Floor
Kitchen / Dining
14' x 9' 9" ( 4.27m x 2.97m )
KITCHEN
• Contemporary kitchen with chrome handles and soft close cupboards
• Wood-effect laminate worktop with matching upstand
• Stainless steel splashback to hob
• Stainless steel 11/2 bowl sink with chrome mixer tap
• Zanussi electric single oven, hob and stainless-steel chimney hood
• Space for fridge/freezer
• Space for washing machine
• Removable base unit for future installation of dishwasher to 3 bedroom houses
Living Room
14' 5" x 11' 11" ( 4.39m x 3.63m )
First Floor
Bedroom One
15' 3" x 9' 10" ( 4.65m x 3.00m )
Bedroom Two
13' 7" x 7' 9" ( 4.14m x 2.36m )
Bedroom Three
10' x 7' 3" ( 3.05m x 2.21m )
Specification:
CLOAKROOM
• Contemporary white sanitaryware comprising close-coupled toilet and basin
• Chrome mixer tap with clicker waste
• Splashback tiling to basin
• Mirror
BATHROOM
• Contemporary white bathroom suite comprising bath, close-coupled WC and pedestal basin
• Chrome mixer tap with clicker waste
• Glass shower screen to bath
• Thermostatic bath/shower mixer over bath
• Large format wall tiling to bath and splashback tiling to basin area
• Mirror
• Chrome heated towel rail
FLOORING
• 2 bedroom homes have wood effect vinyl flooring throughout the ground floor and carpet to stairs, landing and bedrooms
• 3 bedroom homes have wood effect vinyl flooring to kitchen or kitchen/diner, cloakroom and bathroom and carpet to living room or living room/diner, stairs, landing and bedrooms
GENERAL
• White PVCu double-glazed windows
• Walls and ceilings painted in 'Almond White'
• Architraves and skirtings painted in white satinwood
• White panelled internal doors with chrome ironmongery
• Gas central heating via Combi boiler and white contemporary radiators
• NHBC 12-year build warranty
EXTERNAL
• Parking bay to all homes. (Please check site plan for number of bays per plot)
• Paved patio area
• Turf to rear garden
• Outside tap
• 1.8m high timber fencing to rear garden
ELECTRICAL
• Track light to kitchen
• Light fitting to cloakroom and bathroom
• Pendant lighting to all other areas
• White sockets and switches
• Telephone point to hall and living room
• TV point to living room
• Smoke and carbon monoxide detectors
• Extractor fan to bathroom, cloakroom and kitchen
• Shaver socket to bathroom
• Light to front and rear elevation
How Does Shared Ownership Work
The Shared Ownership scheme is simple, you buy an initial share of between 40% and 75% of the homes full value and pay a subsidised rent on the remainder.
You may purchase further shares (up to 100%) as your circumstances change, should you choose to.
Is It Cheaper Than Renting?
Shared Ownership can be cheaper than renting privately as the mortgage cost and low rent usually add up to less than the equivalent rental payments to a landlord.
What If I Already Have A Home?
If you already own a property you would need to have confirmed the sale of your home when you apply to buy via Shared Ownership.
Your application would be assessed based on your housing need for you to be considered for Shared Ownership.
Will I Need A Deposit?
Yes you still need a deposit, but only on the percentage of the property you are buying. Mortgage deposits can often be from 5% of the share value.
What Is The Eligibility?
If you earn or have a household income up to a maximum of £80,000 (or £90,000 in London) per annum, you could be eligible. You can also use Shared Ownership to buy alone or with another person as long as your joint incomes don't exceed the maximum earnings bracket.
What Share Is Available To Me?
You can purchase any share from 40% to 75% of the initial purchase price, but some properties may carry specific minimum share restrictions. You will be asked to speak to a financial advisor to assess what share you can buy that is both affordable and sustainable.
Disclaimer:
All Shared Ownership home sales are subject to eligibility criteria and a financial assessment by an recommended Independent Financial Advisor.
The suggested income levels on the pricelist indicate our recommendation of the household incomes required to purchase; however, applicants on a lower income may be able to secure a property but will need to contribute a larger deposit. (i.e. where you have higher savings, your household income can be lower than the figure quoted in the above).
The 40% share percentage quoted is a guideline and may vary according to individual incomes and circumstances. Charges include buildings insurance, estate management and a management fee. All figures are estimated and subject to change. Minimum income is based on a 6.00% interest rate and 25 year mortgage term.
Images used are of the showhome and for illustrative purposes only and are not plot specific.
*ONLY THREE PLOTS REMAINING* A selection of spacious three bedroom family homes available to purchase via Shared Ownership with shares starting from just 40% at £130,000 and a minimum deposit required of £6500 with a monthly rent of £447.
Lucas Place is a new community of Shared Ownership homes with a range of excellent nearby amenities and transport options including a Lidl, local GP, dental practice, leisure facilities, restaurants, pubs and plenty of local shops to enjoy. Perfect for a growing family, there are a choice of well-regarded primary and secondary schools within a mile too.
The brand-new houses combine charming features and everyday conveniences while offering plenty of natural light and neutral décor, waiting for you to design as you wish. Every home has its own private garden, allowing you your own outside space to enjoy throughout the year.
You are perfectly located for the buzz of the city, as Birmingham Moor Street is just 9 minutes away by train. Major roads including the A34 and A41, plus Birmingham’s excellent bus network mean that whether by bike, car or public transport, you are easily connected.
Price example:
Full market value - £325,000
40% Share price - £130,000
Shares available to purchase from - 25-75%
Rent PCM based on a 40% share - £447
Minimum deposit required - £6500
Shared Ownership could be your step onto the property ladder. This home ownership scheme allows you to buy a share in your home and rent the...
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