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1 bedroom apartment for sale

THE SCOTT 'B'PLOT 121 at Park View, Roughton Road, Cromer, NR27

Shared Equity £157,250

Property Description

Key features

  • A premium home built to a very high quality and specification.
  • Compare all that we INCLUDE, also the space, room sizes and value, you'll be impressed
  • Energy efficient home with TRIPLE Glazing.
  • Choice of luxury kitchen and Porcelanosa tiles, with pelmet lights and cornice to most kitchens.
  • Pressurised shower and a polished chrome heated towel rail.
  • 85% Shared equity.
  • Car port and parking space.
  • Dormer windows to living room and bedroom.
  • Secure external store rooom under main staircase.
  • Parking space.

Full description

Tenure: Leasehold

The Scott B - Plot 121 (598 ft²)

One bedroom coach house apartment - Individual private entrance lobby with stairs to the first floor - kitchen, living/dining room with Juliette balcony and dormer window, bathroom, double bedroom with dormer window and entrance hall with storage cupboard.

85% SHARED EQUITY
DORMER WINDOW TO LIVINGROOM AND BEDROOM.
SECURE EXTERNAL STORE ROOM UNDER MAIN STAIRCASE.
PARKING SPACE.


To find out more about Park View, please click on our logo in the top right corner.



Details of homes sold on the 80% Shared Equity* Scheme

Park View, Cromer. 75% Shared Equity and 85% Shared Equity.

Details of homes sold on the Shared Equity* Scheme:

This exciting new provision of low cost homes will give people who would not otherwise be able to afford an outright purchase the opportunity to buy a high quality new home.

The homes will be built by Norfolk Homes to our usual high standard and will be externally indistinguishable in style.

What is a Shared Equity Property?
A Shared Equity Property is when the buyer purchases a share in the equity of a property and the remaining share of equity is owned by a separate person or organisation. The buyer can purchase the initial share with the aid of a mortgage and upon completion is granted a 125 year lease on the property. During the course of that lease, the buyer does not have to pay any form of rent on the remaining share of equity, whereas they would, had it been a shared ownership property.

If the buyer wants to sell the property, they are free to do so, but would only receive the market value of the share they own.

The buyer has the opportunity to purchase the remaining share of equity in the property, but only after a period of 5 years of owning the initial share. This is known as "staircasing".

How will the homes be sold?
Norfolk Homes will be selling the shared equity lease to the individual buyers and drafts of the leases have already been agreed with North Norfolk District Council, the owners of the remaining share of equity, in respect of both apartments and houses.

The Company's Solicitors, will deal with the granting of the shared equity leases to buyers and so will be issuing contract documents in the
usual manner.

On the date of legal completion of the sale of the shared equity lease to the buyer, completion of a transfer of the freehold of the property to North Norfolk will also take place. Therefore, whilst Norfolk Homes Ltd will be the landlord under the terms of the leases, North Norfolk will take over as landlord upon legal completion of the property. Under the terms of the agreement with North Norfolk, 14 days notice must be served on them of the date it is intended to complete the sale of the shared equity lease. As a result, there will have to be a period of at least 14 days between exchange of contracts and legal completion.

Who qualifies for a shared equity property?
Please refer to Eligibility Criteria form. Click here for a downloadable pdf form.

Terms of the shared equity lease
The shared equity leases are based very closely on the Housing and Communities Agency Model Shared Ownership Lease which have been approved by the Council of Mortgage Lenders. The lease will be for a term of 125 years at a peppercorn* rent.

Click here for *Definitions downloadable pdf.

Applicable only to the following home types:

75% Shared Equity Elliott 'A' (Plots 61 & 62) and Fleming 'A' (Plots 14-17, 71, 72 & 74).
85% Shared Equity Babbage (Plot 67), Babbage 'A' (Plots 58, 59, 76 & 77), Babbage 'G' (Plot 80) and Scott 'B' (Plot 121).

* Customers may choose from ranges currently available at Park View so long as the construction of a home has not passed the required stage
for selection.

** For full details of exterior and construction finishes to specific plots at Park View, please ask our Sales Negotiator. The finishes form part of our planning permission and unfortunately may not be changed.

Cromer and it's Surrounding Area

"Oh I do like to be beside the seaside!!"

If you have always wanted to be more than just a visitor to the seaside then maybe Cromer is the ideal location for you. It sits on the stunning North Norfolk coast, surrounded by some of Norfolk's most beautiful countryside and attractive neighbouring towns and villages.

The town takes much of its character from the many fine buildings that the Victorians and then Edwardians built along the seafront and throughout the town creating a sense of historic grandeur. The landmark pier, promenade, long sandy beaches and rolling cliffs are just some of the other features that make Cromer so visually appealing.

Many stunning coastal and countryside walks can be enjoyed, starting from the town or nearby. The National Trust's elegant Felbrigg Hall, the glorious Blickling Hall and Sheringham Park are only a few miles away, and if golf is your passion, The Royal Cromer Golf Club sprawls over the cliff tops between Cromer and neighbouring Overstrand. Enjoy watersports and fishing on the coast or the famous Broads - a member of the National Parks family - whose waterways begin only 20 miles away at Wroxham.

Cromer has a good array of independent shops and national supermarkets. There are also many restaurants, cafes and public houses in the town and close by. Cromer and District Hospital provides a range of acute out-patient and day case services. There are also dental surgeries, a GP surgery, an infant, junior and academy school within the town. The region's historic capital, Norwich, is just over 20 miles away. Norwich is the main commercial, cultural, retail, entertainment and transport link for the county. Cromer has railway links to Norwich, the Broads and its neighbouring town Sheringham.


Listing History

Added on Rightmove:
20 May 2018

Nearest stations

  • Roughton Road (0.4 mi)
  • Cromer (0.7 mi)
  • West Runton (2.6 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Norfolk Homes Ltd

Roughton Road, Cromer, NR27

01263 658035 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Norfolk Homes Ltd

Roughton Road, Cromer, NR27

01263 658035 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Roughton Road (0.4 mi)
  • Cromer (0.7 mi)
  • West Runton (2.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Norfolk Homes Ltd

Roughton Road, Cromer, NR27

01263 658035 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference scottb. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Norfolk Homes Ltd. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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