North Fields
- Nhbc warranty
- Flooring throughout
- Allocated parking
- Private rear garden
- Kitchen/diner
- Years remaining: 0 years
- Current ground rent: Contact branch
- Ground rent review period: Contact branch
- Annual service charge: Contact branch
- Ground rent increase: Contact branch
- Share sold: Contact branch
- Rent payable: £0 per month
Council Tax Band: Contact branch
Tenure: Leasehold
Shared Ownership:
Magna are proud to offer a selection 2 & 3 Bedroom houses on a brand new development,Corallian Heights, for sale through shared ownership.
£148,500 for a 45% share
Open Market Value: £330,000
Monthly Rent: £415.94
Service Charge: £42.40 -Including buildings insurance.
You can take a look at the key information document for this home at the bottom of this listing
Location
Corallian Heights is located in the picturesque village of Sturminster Newton, a historical town with a range of small independent shops, well regarded schools and The Exchange, a modern community arts centre. The nearby Sturminster Mill offers a range of walking routes for those who like to enjoy nature.About The Developer
Magna Housing is a medium-sized, independent housing company which works with local communities to help people solve their housing problems and make their housing dreams come true, overwhelmingly in the counties of Dorset and Somerset.What Is Shared Ownership?
Shared ownership, also known as part rent part buy, is a way to help people get onto the property ladder.You buy a percentage of a house and pay rent to Magna for the remaining share. The housing association owns part of it but you’re living there, you decorate it and you decide when to sell.This means smaller deposits, smaller mortgage, and the rent you pay on the remaining share is charged at a discounted rate. You can buy more shares as and when you can afford to, usually between 25%-75% and eventually up to 100%, in most cases, you can own your own home outright .*You may have to pay Stamp Duty Land Tax (SDLT) depending on your circumstances and the home’s market value. Discuss this with your legal adviser. You can find more guidance on the GOV.UK website:https://www.gov.uk/guidance/sdlt-shared-ownership-property
Am I Eligible?
You will need to confirm that you’re able to raise enough money (normally with a mortgage) to purchase the share that you own. A monthly rent is then payable on the remaining share, as well as a monthly buildings insurance and service charge fee, which services communal areas in and around your home. No buy to let investors or anyone that already owns a home (unless SSTC).Please Note
We will endeavour to use the photographs of the actual property but may also show pictures of the show home and/or computer generated images. The computer generated impressions of how the property may look are indicative only. External finishes or details may vary on individual plots. Floorplan images may be handed. Build completion dates TBC. Purchasers often need to buy their own flooring apart for the areas as mentioned in the main description.Reservation fee applies.Use our handy mortgage calculator to estimate what your monthly repayments could be. Edit the fields below with the relevant details or, if you’d like a more accurate view on what your repayments could be, complete our mortgage enquiry form below and our Mortgage Consultant will be in touch.
* Terms and Conditions apply.
Mortgage enquiry
LENDER FEES MAY ALSO BE APPLICABLE. IF YOU WOULD LIKE GUIDANCE ON THE RIGHT MORTGAGE FOR YOU, WE RECOMMEND SPEAKING TO ONE OF OUR MORTGAGE CONSULTANTS WHO WILL BE MORE THAN HAPPY TO HELP.
**THE 4.7% ANNUAL INTEREST RATE IS BASED ON THE CONNELLS GROUP AVERAGE MORTGAGE INTEREST RATE TAKEN FROM THE PERIOD OF 01/01/2024 – 01/03/2024 AND IS CORRECT AS AT 07/03/2024.
A LIFETIME FEE MAY BE PAYABLE UPON MORTGAGE APPLICATION AS WELL AS AN ADMINISTRATION FEE. THE TOTAL FEE PAYABLE WILL DEPEND ON YOUR CIRCUMSTANCES. YOUR MORTGAGE CONSULTANT WILL EXPLAIN ANY FEES APPLICABLE IN YOUR INITIAL APPOINTMENT.
ALL MORTGAGES ARE SUBJECT TO STATUS AND LENDER CRITERIA. MOST BUY TO LET MORTGAGES ARE NOT REGULATED.