Shared Ownership

This brand new home is available to buy from as little as £47,500 with a 25% share!

This stylish and modern two-bedroom, first floor apartment is located within the Heritage Grange development. The apartment features a spacious open-plan kitchen, dining, and living area, designed for modern living and entertaining. The main bedroom offers ample space and comfort, while the second bedroom is perfect for guests, a home office, or additional living space. A well-appointed bathroom and convenient storage complete the layout, ensuring functionality and comfort.

Heritage Grange is set in the picturesque village of Upper Lighthorne, surrounded by the beautiful Warwickshire countryside. The development is thoughtfully designed with a community-focused approach, offering green spaces and a tranquil setting. Local amenities include shops, schools, and recreational facilities, while the nearby towns of Warwick and Leamington Spa provide a wider range of dining, shopping, and leisure options. With excellent transport links to major cities, this is the perfect location for a balanced and connected lifestyle.


PRICING & AFFORDABILITY

Full Market Value: £190,000

25% Share Price: £47,500 (rent £326.56.00pcm)
50% Share Price: £95,000 (rent £217.71pcm)
75% Share Price: £142,500 (rent £108.85pcm)

Minimum 5% Mortgage Deposit (25% share): £2,375
Approximate Service Charges: £133.11 pcm*
Shared Ownership Lease: 125 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 Heritage Grange 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 this shared ownership scheme 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.

**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 www.sagehomes.co.uk.
; Service Charge: 1597.32