This 40% shared ownership is the equivalent full value of £160,000 and the monthly rent including service charge is only £321. With 100% mortgages available, this is the perfect first time buy.
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Why buy this home?
The current owner couldn't quite believe her luck when she managed to secure this shared ownership apartment. "You hear stories about 'Generation Rent' and I thought I wouldn't be able to afford to get on to the property ladder at my age. That was until I discovered this hidden gem and found that the rent was only £321 per month which included the service charge..."
It is hard to believe, especially when there are now 100% mortgages available for Shared Ownership properties and it is also under the Stamp Duty threshold. You could literally purchase this home and the only upfront cost would be the legals at circa £1,500...
So why did the owner choose to buy this apartment over others? "The affordability was the initial attraction, but Newton Leys is such a convenient location and being a newly built home means no stressful repairs!". The space offered in this modest home is perfect for a single person but is also large enough to comfortably live two people without feeling on top of each other.
The main attraction is the open-plan lounge/kitchen which has enough space for a living area and dining area. Large windows allow floods of light in, and being east-facing means a lovely bright room in the morning, but a calm relaxing room in the evening. The kitchen has a fridge/freezer and washing machine which are being left by the owner.
The bathroom is functional and is decorated in a neutral tone, creating a clean, airy space. "The shower is brilliant; there's nothing worse than low water pressure when you're a working professional, so it's one of the first things I checked when I bought it!"
The bedroom is an impressive 141 sq ft (approx) which means plenty of room for wardrobes, bedside tables, chest of drawers etc and still have space to move around! It also has an east-facing window to help you get up in the morning! And you'll be pleased there isn't just one but two storage cupboards in the hallway; a rarity in modern builds.
"I'll probably miss the neighbours the most. Not only the general community which is amazing, but also the people in the block. Everyone gets on really well and looks after the place. Having a new Pub on your doorstep is the icing on the cake and Pink Punters is 5 minutes down the road so no expensive taxi home when you feel like a night out!"
The Housing Association for this beautiful apartment is BPHA who have a requirement that your income must be less than £80,000 per annum, you can not own any other property and cannot have outstanding credit issues (CCJ's etc) to be eligible for a shared ownership property. You must also register with your local Help to Buy agent to apply for this property - we can help you with the process if you are not already registered.
This stunning home is offered at a 40% share (putting full value at £160,000) with no premium. The current rent on the other 60% is £321 per month.
More about the location.....
For a new development, Newton Leys is steeped in history. with some parts dating back as far as the Iron Age. However, it was more recently famous for brick-making from the late 19th Century, in the form of Newton Longville Brickworks. When the Brickworks closed in 1978, an old claypit was flooded to create Jubilee Lake, now more commonly known as Willow Lake, easily the jewel in Newton Leys' crown.
Newton Leys is a district that covers the southern tip of Bletchley and is split between the Borough of Milton Keynes and Aylesbury Vale. Conveniently located next to the A4146 and A5, it gives easy access to Milton Keynes, Leighton Buzzard and the M1. You have a choice of either Bletchley or Leighton Buzzard Train Stations which both offer services directly into London Euston.
Newton Leys Pavilion is now open and has daily classes such as Five Star Fitness, Badminton, Amy's Dance Academy, Zumba and Yoga. There is also a community hall and meeting rooms, making it ideal for parties and private functions.
In 2017 Newton Leys District Centre opened providing local conveniences such as a Costa, Chinese Takeaway, Fish and Chip Shop, Dry Cleaners, Hair Salon and a 8000 sq. ft Asda. The Turing Key pub opened its doors at the end of April and has already become the heart of the community. It is in good company as there numerous village pubs within a few miles such as The Three Locks at Stoke Hammond, The Crooked Billet at Newton Longville and The Betsey Wynne at Swanbourne.