2 bed semi-detached house for sale

Chancery Park, Burwell Road, Exning CB8

Brand new 2 Bedroom shared ownership house available to purchase at £91,500 with a deposit a little as £4,575 which represents a 30% share of the full market value of £305,000. Maximum share to initially purchase is 75%.

The Wareham is a fantastic 2 bedroom house at Chancery Park in Exning, Newmarket. From making your way into the property you will be greeted into the hallway with the kitchen on your left hand side which stretches across two sides off the room. Adjacent to the kitchen you have got the living room with double French doors opening up into the garden allowing brilliant level of natural light into the property. There is also an under stair cupboard in the living room which is perfect for your storage needs. As we make our way up to the first floor there are two bedrooms which are both double in size with the master bedrooms benefiting from stretching across the whole width of the house. The property comes with a three piece bedroom, airing cupboard, downstairs W/C a fully turfed garden.

How much will this cost?
You can buy shares as low as 30% and Below is a breakdown of how much buying at Chancery Park will cost.

Full Market Cost: £305,000

30% Share - £91,500
Rent/month - £489.27
5% Deposit - £4,575

50% Share - £152,500
Rent/month - £349.48
5% Deposit - £7,625

75% Share - £228,750
Rent/month - £174.74
5% Deposit - £11,438

Exning is a quaint and charming village based in West Suffolk with access to the nearby A14 which allows easy travel into Cambridge and the M11 down towards London. For the commuter there are rail services from Newmarket and Ely which takes you into both Cambridge stations where you can go straight into London Kings Cross or Liverpool Street.

Exning benefits from a primary school with an ‘outstanding’ rating from Ofsted, post office, array of pubs and local shop. Nearby only a stones throw away is the famous town of Newmarket which stages some of the most popular horse racing in the world at the Rowley Mile and July Race courses. Newmarket has a wide variety of amenities including supermarkets, golf course, café’s, restaurants, bars and fantastic range of quirky privately owned shops too.

What is shared ownership?
Shared Ownership is a government-backed scheme that has been around for more than 35 years and has helped over 200,000 people buy a home.
Why buy shared ownership?
Shared Ownership is the perfect way to get on to the housing ladder if your finances mean that your housing needs and your current situation don’t quite match. Better still, it’s usually cheaper than renting.
How does it work?
With Shared Ownership you buy a percentage of the home’s overall value. You can buy between a 25% and 75% share to start with, and you must always buy the maximum you can afford. You pay rent on the share you don’t buy. The rent increases annually, but is always subsidised and is worked out using a percentage of the value of the share you don’t own.
If you’re looking to buy with Shared Ownership you’ll need a mortgage in the same way you would if you were buying on the open market. Shared Ownership mortgages are available from most mortgage lenders, who will lend to you if you have a 5% deposit or greater. This means that you could buy your dream home, in your dream area, without needing a big deposit or big salary.
Are you eligible?
There are two things to think about when looking into Shared Ownership:
• You must earn less than £80,000.
• You must be a first-time buyer, or no longer have your name attached to a house (if you are selling your home at the moment, speak to your provider, they will be able to advise you).
Particulars
Tenure: Leasehold
Council Tax Band: New build - Council tax band to be determined

Price are plot specific. Please call Abbotts Mildenhall for further details