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

£48,000 Shared Ownership

Guideline Minimum Deposit £4,800
Guideline Income £16,000
First Floor with Juliette Balcony
Approx. 437 Sqft Gross Internal Area
Open-Plan Reception/Kitchen
Double Glazing and Gas Central Heating
Parking Space
Walking Distance to Station/Town Centre

General Description

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

SHARED OWNERSHIP (Advertised price represents 40% share. Full market value £120,000). A bright, modern flat on the first floor with an open-plan kitchen/reception room that features a Juliette balcony. There is a good-sized bedroom and useful storage space has been provided in the entrance hallway. Energy-efficiency and environmental-impact ratings are very good thanks to well insulated walls, double glazing and gas central heating. The flat comes with a parking space and is conveniently placed for access to the A14 which runs west to Bury and Cambridge or towards Ipswich and the east coast. Alternatively, Stowmarket Railway Station which offers services to various destinations, is within comfortable walking distance as is the town centre.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [HERE; https://bit.ly/2ZPfQ5T]

(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).
Minimum Share: 40% (£48,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £208.57 per month (subject to annual review).
Service Charge: £35.04 per month (subject to annual review).
Guideline Minimum Income: £16,000 (based on minimum share and 10% deposit).
Council Tax: Band A, Mid Suffolk District Council. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals).

Dimensions

Reception

18' 5" max. x 11' 5" max. (5.61m x 3.48m)

Kitchen

included in reception measurement

Bedroom

15' 6" max. x 8' 2" max. (4.72m x 2.49m)

Bathroom

Energy Effeciency Rating

Energy Efficency Rating Environmental Impact 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 Homes England outside of London.

IS SHARED OWNERSHIP FOR YOU ?
The GLA and Homes England 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]