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NEW HOME

Millington Place, Newark, Nottinghamshire, NG24

Key features

  • End Terraced House
  • Fitted kitchen
  • Utility area with cloakroom/wc
  • Living room
  • Master Bedroom with ensuite
  • 3 Further bedrooms
  • Bathroom/wc
  • Enclosed turfed garden
  • Parking
  • 10 year build warranty

Description

We are excited to be offering a selection of 4 bedroom end terraced houses for Shared Ownership situated within the popular Fernwood Village.

Fernwood is located on the edge of Balderton, approximately 3 miles south of Newark giving easy access to the A1 which is perfect for commuting to both Nottingham or Lincoln. There is a range of local essential amenities including a day nursery, primary school, village hall, 2 public houses, convenience stores and fitness Gym.

The Property

These properties briefly comprise of a contemporary kitchen, separate utility area and Living/Dining Room on the ground floor. To the first floor there is a double bedroom with en-suite, a single room and the family bathroom. To the third floor there are two double bedrooms. Additional benefits include parking and fenced rear garden.

Prices

Plots 322, 324 - £290,000


£72,500 for a 25% share
Monthly Rent on remaining share £498.43

£145,000 for a 50% share
Monthly Rent on remaining share £332.29

£217,500 for a 75% share
Monthly Rent on remaining share £166.14

Other shares can be purchased subject to an affordability assessment.

Examples of deposit rates are based on our minimum required deposit rate of 5%. However please seek financial advice to confirm what deposit rate is available to you.

Council Tax TBC - due to these properties being new builds and not being previously occupied the council tax and banding has not yet been set.

Service Charge - A service charge will be charged against the property and is paid monthly with your rent payment. The service charge is reviewed on an annual basis on April 1st. This will include Buildings insurance, management and any communal/estate charges that may be covered (if applicable). The service charge displayed is estimated based on the initial assessment of the scheme, please contact the sales consultant for details.

Ground Rent - Not applicable

Homes England Key Information Document - please refer to our website to read through our key information document for this property. This will include pricing details, eligibility and some lease information.

NEXT STEPS:
1. For further information, please download our brochure below.
2. TO APPLY NOW, please make an enquiry to contact Platform Home Ownership, the relevant sales consultant will then send you an application form to complete.
3. Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.
4. Once you have passed the affordability assessment, we will then be in contact to confirm the availability.
5. If there is a suitable property we will then issue out your offer letter and advice on how to pay your £250.00 reservation fee for your new home.


Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. It allows you to buy a share in a property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Over time, you can purchase more shares in your property - this is known as 'staircasing'. This can be done at any time after initial purchase and it will reduce the amount of rent you pay, as the share of the home that you do not own will have got smaller.

We will offer shares between 25-75% of the property value depending on the outcome of the affordability assessment. The higher the share you purchase, the lower your rent will be. You will need to be able to obtain a mortgage for the share you want to purchase unless you have sufficient funds to enable you to purchase a share outright. Deposit amounts will be lower than purchasing a property on the open market also the combined cost of mortgage and rent is often cheaper than privately renting in the area.

For more detailed information and your obligations in relation to shared ownership please download our 'Guide to Shared Ownership'

Am I eligible?

Shared Ownership uses the following criteria to help people to get onto the property ladder:
- Maximum annual household income of £80,000.
- Unable to purchase a home suitable for your needs.

*Please note some images are typical and should be used as a guide only


Brochures

BrochureKID 1

Tenure: Leasehold You buy the right to live in a property for a fixed number of years, but the freeholder owns the land the property's built on.Read more about tenure type in our glossary page.

GROUND RENTA regular payment made by the leaseholder to the freeholder, or management company.Read more about ground rent in our glossary page.

Ask agent

ANNUAL SERVICE CHARGEA regular payment for things like building insurance, lighting, cleaning and maintenance for shared areas of an estate. They're often paid once a year, or annually.Read more about annual service charge in our glossary page.

Ask agent

LENGTH OF LEASEHow long you've bought the leasehold, or right to live in a property for.Read more about length of lease in our glossary page.

990 years left

Council TaxA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council tax in our glossary page.

Ask agent

Millington Place, Newark, Nottinghamshire, NG24

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Newark North Gate Station2.5 miles
  • Newark Castle Station2.9 miles
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About the agent

Platform Housing Group, Solihull

1700 Solihull Parkway Birmingham Business Park Birmingham B37 7YD

Platform Home Ownership is part of Platform Housing Group.

At Platform Home Ownership, we have helped thousands of people to realise their dream of buying their own home over the 30+ years that we have been operating.

We offer an affordable route to homeownership, with properties available for outright sale, shared ownership and rent to buy

Across Platform, we have a commitment to make a real positive difference to lives of our customers and the communities they live in.

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Disclaimer - Property reference MillingtonPl_4bed. 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 Platform Housing Group, Solihull. 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.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.

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