Turner Crescent, Postwick, Norfolk, NR13 5GJ

Highlight Housing, The Affordable Homes Agency, working with Legal & General Affordable Homes, is pleased to present this one-bedroom second floor apartment in Postwick, Norfolk. The price shown represents purchasing a 25% share of the property.

Property Overview

This one-bedroom apartment offers approximately 547 sq. ft. (51 sq. m.) of well-proportioned accommodation, providing a practical home for individuals or couples looking to step onto the property ladder.

The entrance hallway leads into a spacious open-plan kitchen, lounge and dining area measuring approximately 23'0” x 12'6”. The kitchen is arranged along one wall, leaving plenty of space for comfortable living and dining.

The double bedroom measures approximately 10'2” x 10'5”, providing space for bedroom furniture and storage.

The accommodation is completed by a separate bathroom with a bath, washbasin and Wc.

Located on the second floor, the apartment provides a convenient and manageable living space within an established residential development.

Financial Breakdown

• Full Market Value: £170,000
• Share Available: 25%
• Share Purchase Price: £42,500
• Monthly Rent: £333.87
• Service Charge: £18.09 pcm
• Estate Charge: £12.90 pcm
• Buildings Insurance: £14.07 pcm
• Management Fee: £40.91 pcm
• Reserve Fund Payment: £44.29 pcm
• Total Monthly Payment (excluding rent): £130.26
• Total Monthly Rent and Charges: £464.13
• Tenure: Leasehold
• Lease Length: Approximately 988 years remaining
• Rent Review: Annually, Rpi + 0.5%

The property is available through Shared Ownership, with the opportunity to purchase a larger share subject to eligibility and affordability.

Local Area

Postwick is a well-connected village situated to the east of Norwich, offering a convenient location for those looking to enjoy a quieter residential setting while remaining within easy reach of the city.

The nearby Broadland Business Park provides employment opportunities, while surrounding retail facilities, supermarkets and local amenities cater for everyday needs.

Norwich city centre offers an extensive range of shops, restaurants, cafés, entertainment venues and cultural attractions.

The property benefits from convenient access to the A47 and A1270 Broadland Northway, providing connections across Norfolk and the wider region.

Norwich railway station offers regular services to London Liverpool Street, Cambridge and other destinations, while the nearby Norfolk Broads provide opportunities to enjoy the surrounding countryside.

What is Shared Ownership?

Shared Ownership is a government-backed scheme designed to help eligible buyers purchase a home when buying outright may not be affordable.

You purchase a percentage share of the property, typically using a mortgage and deposit, and pay rent to the housing provider on the remaining share.

Over time, you may have the opportunity to purchase additional shares in your home through a process known as staircasing, potentially increasing your ownership to 100%.

Eligibility Criteria

To be eligible for Shared Ownership, applicants must generally meet the following criteria:

• Your household income must be £80,000 or less per year.
• You must be unable to afford to purchase a suitable property on the open market.
• You must be a first-time buyer, a previous homeowner unable to purchase again, an existing shared owner looking to move, or otherwise meet the relevant eligibility requirements.
• You must not own another property upon completion of your Shared Ownership purchase.

All applicants will be subject to eligibility and affordability assessments.

About Highlight Housing

Highlight Housing, The Affordable Homes Agency, specialises in helping people access affordable homeownership opportunities across England.

Working alongside housing providers, developers and industry partners, we support buyers throughout the early stages of their homeownership journey, helping them understand their options and navigate the Shared Ownership process.

Our aim is to make affordable homeownership more accessible, straightforward and transparent.

Shared Ownership Disclaimer

The information provided is intended as a general guide and does not form part of any offer or contract.

All property details, measurements, prices, rental payments and service charges are provided in good faith and should be independently verified before proceeding.

Monthly costs may be subject to annual reviews and increases in accordance with the terms of the lease.

Eligibility criteria, affordability assessments and mortgage availability apply. Buyers should seek independent mortgage and legal advice before committing to a purchase.

The purchase of a Shared Ownership property involves entering into a lease agreement, which sets out the rights and responsibilities of both the leaseholder and housing provider.

Photographs, floor plans and descriptions are provided for illustrative purposes only.