Shared Ownership
This brand new home is available to buy from as little as £100,000 with a 50% share!
Thoresby Vale is a beautiful new development in Edwinstowe surrounded by stunning countryside. This exciting new scheme offers an elegant collection of 2 and 3 bedroom semi detached homes.
Thoresby Vale is in the heart of Sherwood Forest, surrounded by a 244-acres country park. And, less than 20 miles from Nottingham, this location offers buyers the best of both worlds: the vibrancy of the city and the quiet of the countryside. You can enjoy city life any time you want; browse the extensive high street shops, dine in one of Nottingham’s celebrated restaurants and try out its dynamic night life. Or, you can delve into Nottinghamshire’s rich heritage and historic buildings; visit Nottingham Castle, Newstead Abbey; home of Lord Byron or, roam Nottinghamshire’s rolling hills and charming villages.
You’ll be spoilt for choice with days out living at Thoresby Vale. The beautiful Sherwood Forest nature reserve is on your doorstep - discover the legend of Robin Hood and visit one of Europe’s most famous and oldest Oak trees, the Major Oak. If you love adventure, Sherwood Pines is home to the aerial treetop adventure, Go Ape, as well as some challenging mountain biking routes. You and your family can immerse yourself in nature with 360° views of the countryside, whilst enjoying everything Edwinstowe village has to offer just a 10-minute walk from your front door.
These stunning energy efficient homes are constructed to the highest specifications and provide quality, contemporary living. Each one of these properties has a landscaped garden and off-road parking. With families at their heart, these impressive homes embrace modern living, with a large open plan fitted kitchen, dining area, and lounge, with a separate lobby to the garden. In addition, each property benefits from a downstairs w/c.
The first floor in each home has a contemporary three piece bathroom suite and two well proportioned bedrooms (a double and a twin). All this is complemented by gas central heating, smoke detectors, stylish uPVC doors & windows and neutral decor throughout. Externally is off road parking and a garden.
PRICING & AFFORDABILITY
Full Market Value: £200,000
25% Share Price: £50,000 (rent £343.75pcm)
50% Share Price: £100,000 (rent £229.17pcm)
75% Share Price: £150,000 (rent £114.58pcm)
Minimum 5% Mortgage Deposit (25% share): £2,500
Approximate Service Charges: £41.64 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 Thoresby Vale 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 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
LOCAL AREA CONNECTION REQUIREMENT
Buyers must have a local area connection to Edwinstowe in order to be eligible. This could be via one of the following:
- Born in the local borough
- Currently live in the local borough
- Currently work in the local borough
- Their current work provides important services to the borough and need to work closer to the local community
Proof of a local area connection will be required as part of the reservation process.
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.
