3 bedroom semi-detached house for sale

Shared Ownership

This brand new home is available to buy from as little as £142,500 with a 50% share!

With panoramic views of farmland and greenery to the front of the development and East Leake's quaint village centre just a short walk away, The Skylarks offers you the perfect escape to the country. As a resident, you’ll enjoy a relaxed village lifestyle, whilst having a wealth of shops, eateries, pubs and a supermarket all within a mile’s walk. East Leake has a convenience store, a fruit and vegetable shop, a farm shop, an independent bistro and numerous country pubs, to name but a few. Plus, with Nottingham and Loughborough just a short drive, you'll have access to high street shops, restaurants and entertainment options.

Great schools are also within the catchment area, whilst the destination is proving a hit with commuters from all over the East Midlands. Brookside Primary School, Lantern Lane Primary School and East Leake Academy are all within the village catchment area, whilst a planned primary school is underway next to the development.

Loughborough, Nottingham, Leicester and Derby are all commutable within 30 minutes' via either the M1 Motorway, A46, A52 or A6, whilst East Midlands Parkway and Loughborough train station both have indirect routes into London St Pancras in under two hours. For international travel, East Midlands International Airport is a short drive. For those that don't drive, the development is located close to a major bus route that has links into Nottingham.

This brand new semi detached home features a kitchen/diner with a separate lounge, a ground floor cloakroom, three bedrooms, bathroom, parking and garden.

PRICING & AFFORDABILITY

Approximate Size 926 sq ft

Full Market Value: £285,000

25% Share Price: £71,250 (rent £489.84pcm)
50% Share Price: £142,500 (rent £326.56pcm)
60% Share Price: £171,000 (rent £261.25pcm)
75% Share Price: £213,750 (rent £163.28pcm)

Minimum 5% Mortgage Deposit (50% share): £7,125
Shared Ownership Lease: 125 years
Council Tax Band: TBC
Approximate Service Charges: £52.83pcm*

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.

At The Skylarks you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

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.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*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.

*These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

SOWN are selling the homes on behalf of Sage Homes. Sage Homes is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Homes visit .