Gilbert Mead, Norman Cross, Peterborough

Shared Ownership

This brand new home is available to buy from as little as £87,500 with a 25% share!

Discover a fantastic collection of brand-new Shared Ownership houses at Fletton Folly, forming part of the growing new community at Great Haddon. Each home has been designed with contemporary living in mind, with modern fitted kitchens, well proportioned living spaces and private rear gardens. Homes also benefit from allocated parking, EV charging and energy efficient features, creating comfortable and practical homes ready for their new owners.

Great Haddon enjoys an attractive setting between Hampton and Yaxley, with open countryside, green spaces and walking and cycling routes close by. Crown Lakes Country Park is within easy reach, while the wider Great Haddon community will provide a range of local amenities, schools and community facilities.

Peterborough city centre is less than five miles away, providing an extensive choice of shops, restaurants, leisure facilities and employment opportunities. For commuters, Peterborough railway station offers direct services to London King’s Cross in around 50 minutes, while excellent road connections provide convenient access across the wider region.

This brand new townhouse home offers spacious and versatile accommodation arranged over three floors. The ground floor features a well proportioned fitted kitchen alongside a separate dining room with direct access to the rear garden. On the first floor is a generous living room, third bedroom and modern family bathroom. The second floor provides two further double bedrooms, including the principal bedroom with its own en-suite shower room. Externally is parking and an enclosed rear garden.

PRICING & AFFORDABILITY

Full Market Value: £350,000

25% Share Price: £87,500 (rent £601.56pcm)
50% Share Price: £175,000 (rent £401.04pcm)
75% Share Price: £262,500 (rent £200.52pcm)

Minimum 5% Mortgage Deposit (25% share): £4,375
Approximate Service Charges: £60.65 pcm*
Shared Ownership Lease: 999 years
Council Tax Band: TBC

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 Fletton Folly you can buy a minimum 25% share of your home on selected plots (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

AI-Generated Visualisation: Some images have been created using AI to show the home's potential once decorated and furnished. These images are for illustrative purposes only.