Shared Ownership
This brand new home is available to buy from as little as £184,500 with a 45% share!
Discover an exciting opportunity to get onto the property ladder at Wykham Park, Banbury, with a selection of beautifully designed new homes available through Shared Ownership. Offering modern, energy efficient living in an attractive new community, these homes are ideal for first time buyers, couples and families looking for a more affordable way to secure a home of their own. With contemporary interiors, thoughtfully planned living spaces and private gardens, Wykham Park offers a fantastic combination of style, comfort and value.
Situated on the edge of the historic market town of Banbury, the development is well placed for a wide range of shops, supermarkets, schools, leisure facilities and places to eat and drink. Banbury railway station provides excellent connections towards Oxford, Birmingham and London Marylebone, while the nearby M40 makes travelling by road equally convenient. With countryside close at hand and the amenities of Banbury within easy reach, Wykham Park is a superb choice for modern living.
This brand new semi detached home has accommodation that includes an entrance hall, lounge, a superb kitchen/diner at the back of the house with direct access to the rear garden, a ground floor cloakroom, three bedrooms and a bathroom. Externally is allocated parking and an enclosed garden.
PRICING & AFFORDABILITY
Approximate Size 923 sq ft
Full Market Value: £410,000
45% Share Price: £184,500 (rent £516.77pcm)
60% Share Price: £246,000 (rent £375.83pcm)
75% Share Price: £307,500 (rent £234.90pcm)
Minimum 5% Mortgage Deposit (45% share): £9,225
Approximate Service Charges: approximately £65 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 Wykham Park the maximum share 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. 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.
