Shared Ownership
This brand new home is available to buy from as little as £125,000 with a 50% share!
Lavender Fields is an attractive new development set within the popular village of South Wootton, approximately three miles from King’s Lynn. Surrounded by green open spaces and designed with a pleasant village feel, the development combines a more relaxed setting with excellent access to everyday amenities. South Wootton itself offers local shops, pubs and services, while King’s Lynn provides a much wider choice of shopping, restaurants and leisure facilities.
Families are particularly well catered for, with South Wootton Infant School approximately 0.2 miles, South Wootton Junior School around 0.4 miles and North Wootton Academy approximately 0.5 miles away. Tesco Express is also around 0.4 miles from the development, while nearby leisure attractions include Bawsey Country Park and Lakes, the Royal Sandringham Estate and the Norfolk coast, with Hunstanton approximately 14 miles away.
Lavender Fields is well positioned for travel throughout the region, with the A149 approximately 0.5 miles and the A148 around 0.6 miles away, providing convenient connections towards King’s Lynn, Norwich, Hunstanton and the wider Norfolk coast. King’s Lynn railway station is approximately 2.2 miles from the development and offers direct rail services towards Ely, Cambridge and London King’s Cross.
The Alnmouth is a well designed two bedroom home offering a modern and practical layout. The ground floor centres around a spacious open-plan kitchen/dining/living room, creating one sociable space for cooking, dining and relaxing, together with a convenient downstairs WC. Upstairs are two bedrooms and the family bathroom. Outside is parking and a garden.
PRICING & AFFORDABILITY
Full Market Value: £250,000
50% Share Price: £125,000 (rent £286.46pcm)
60% Share Price: £150,000 (rent £229.17pcm)
75% Share Price: £187,500 (rent £143.23pcm)
Minimum 5% Mortgage Deposit (50% share): £6,250
Approximate Service Charges: £65.47 pcm*
Shared Ownership Lease: 990 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 Lavender Fields advertised shares start from 50% (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.
