Merlin House, Creeting Road East, Stowmarket, Suffolk IP14 5GD

£56,000 Shared Ownership

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  • Guideline Minimum Deposit £5,600
  • Min. Income Single £16.4k Dual £14.5k
  • Ground Floor
  • Approx. 650 Sqft Gross Internal Area
  • Double Glazing
  • Gas Central Heating
  • Parking Space
  • Walking Distance to Station/Town Centre

General Description

A Fantastic Opportunity to Purchase a Two Bedroom Flat, on a Shared Ownership (Part Buy/Part Rent) Basis, through Clarion Housing

 

SHARED OWNERSHIP (Advertised price represents 40% share. Full market value £140,000). This modern, ground-floor flat has a dual-aspect reception room which includes a Juliette balcony and an open-plan kitchen. There are two double bedrooms, one also dual-aspect and one with an additional Juliette balcony. Energy-efficiency and environmental-impact ratings are good thanks to well insulated walls, double glazing and gas central heating. The flat comes with a parking space and is within comfortable walking distance of Stowmarket Station which offers services to various destinations including Peterborough, Cambridge, Ipswich, Norwich and London Liverpool Street.

 

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [HERE; http://bit.ly/2HHTzPz]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

 

Tenure: Leasehold (125 years from 2007)
Share Available: 40% (£56,000). Clarion Housing may request that you purchase a higher share if the property is deemed 'too affordable'.
Shared Ownership Rent: £230.97 per month. This is the figure from April 2019 and is reviewed annually.
Service Charge: £46.20 per month. This is the figure from April 2019 and is reviewed annually.
Guideline Minimum Household Income: £14,500 assuming dual incomes and a 10% deposit of a 40% share. Equivalent single-income figure would be £16,350.
Council Tax: Band B, Mid Suffolk (£1424.27 for 2019-20). Priority may be given to applicants that currently live and/or work in the District of Mid Suffolk.

The property is offered for sale on a sold-as-seen basis. Clarion Housing do not offer any warranties on the domestic appliances in the property or undertake to carry out any remedial or redecoration work. Pets not permitted (except assistance animals).

Dimensions

Reception
15' 2" x 16' 11" (4.62m x 5.16m)
Kitchen
included in reception measurement
Bedroom ( Bedroom 1 )
11' 8" x 10' 7" (3.56m x 3.23m)
Bedroom ( Bedroom 2 )
12' 2" x 9' 7" (3.71m x 2.92m)
Bathroom
Energy Effeciency Rating

Floorplans


Shared Ownership

WHAT IS SHARED OWNERSHIP ?
Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and the Homes and Communities Agency (HCA) outside of London.

IS SHARED OWNERSHIP FOR YOU ?
The GLA and HCA set the eligibility criteria for Shared Ownership, but broadly speaking you must:
 Not own another property in the UK or any other country.
 Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
 Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
 Be in full time permanent employment.
 Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
 Have a good credit history.
If you are still unsure about Shared Ownership or would like more information view [ Facts and Frequently Asked Questions]

Location

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