2 bedroom terraced house for sale

Shared Ownership

This superb modern home is available to buy from as little as £148,000 with a 40% share!

Offered to the market with no onward chain complications is this two bedroom terraced home in the village of Fulbourn just outside of Cambridge. The property is presented in good order and accommodation comprises two bedrooms, bathroom, living dining room, kitchen and downstairs WC. Outside, there is an allocated parking space and a garden at the rear.

Fulbourn boasts a variety of local shops, including an independent butcher, greengrocer, sandwich shop, pharmacy, and a Co-op supermarket. The village is approximately 3 miles from Cambridge City Centre and its array of shops and amenities.
Cambridge Station is a main rail hub with frequent services to London and surrounding areas. A14 and M11 motorways provide road connections to London, Stansted Airport, and the Midlands. There are also many local bus services.

PRICING & AFFORDABILITY

Full Market Value: £370,000

40% Share Price: £148,000 (rent £531.21 pcm)
Minimum 5% Mortgage Deposit (40% share): £7,400
Approximate Service Charges: £87.81 pcm*
Lease: 109 years

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £80,000
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

* This home can also be purchased outright (100% of the value) which is £370,000 and a purchaser would not need to meet the eligibility criteria listed above.