Cringleford Heights

Newfound Farm, Colney Lane, Norwich, NR4 7RG
Shared Ownership

Cringleford Heights

Newfound Farm, Colney Lane, Norwich, NR4 7RG

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From £162,500 for a 50% share
With min. deposit £8,125

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£162,500

3 Bedrooms Semi-detached house

Property Number 416
Availability FOR SALE
Advertised Share 50%
Full Market Price £325,000
Deposit From £8,125
Monthly Rent £373
Monthly Mortgage Cost £806
Monthly Service Charge £55
Estimated Monthly Cost £1,234
Bedrooms 3
Bathrooms 1
Number Of Floors 1
Tenure Leasehold

Cringleford Heights

Newfound Farm, Colney Lane, Norwich, NR4 7RG

Overview

Final units remaining on this Phase

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Home for Christmas and all the moments in between

Find the perfect place to call home this festive season.

With Shared Ownership, it’s easier than ever to get moving, and we’ll even help with the costs!




Cringleford Heights, is a brand new development comprised of 2 & 3 bedroom terraced homes in Norfolk. Settling in this prime location Cringleford Heights means you can enjoy a traditional village location with a welcoming atmosphere. Six-time winner of the Norfolk Village of the Year competition, Cringleford is home to a wide range of amenities to keep you well connected whilst in a semi-rural setting.

Here in Cringleford, you will benefit from fantastic facilities and amenities on your doorstep: a doctor’s surgery, a veterinary clinic, two pubs, a community centre - The Willow Centre; schools, local shops, open-spaces and play areas. Also great for commuters, with fantastic transport links for commuting to towns and cities further afield - Cringleford sits just 3 miles of the thriving city of Norwich and the A11, A47 and A140 are in close proximity.

Travel Times

  • 33 mins From Norwich to Great Yarmouth
  • 38 mins From Norwich to Ipswich
  • 1hr 10 mins From Norwich to Cambridge North
  • 9 mins Hospital
  • 10 mins Tesco Express
  • 16 mins University of East Anglia
  • 6 mins Waitrose and partners
  • 15 mins Norwich Town Centre
  • 40 mins Great Yarmouth

Key Features

  • Brand new 3 bedroom semi-detached house
  • Flooring throughout
  • Storage space
  • Modern fitted kitchen
  • Allocated parking
  • Private garden
  • NHBC Warranty
  • There will be an added service charge

Site Plan

FAQs

Shared ownership is a government-backed scheme, designed to make stepping onto the property ladder more affordable. You buy a portion of a home normally with a mortgage and a deposit, and pay a low-cost rent on the rest.

The eligibility criteria for Shared Ownership is simple; as long as you don't currently own, or won't own another property when you move in to a new home, you're likely to qualify.

Your annual household income (that's both yours and your partners' if buying together) can't exceed £80,000 (or £90,000 in London) and you'll need to have savings to cover purchasing costs such as solicitors fees and your mortgage deposit.

There's no fixed minimum income; you just need to be able to afford to buy the home and the monthly costs - this will be established via an affordability.

No - the scheme is designed to help people buy a suitably sized home that they cannot afford to buy otherwise. That typically means first time buyers, but if you've owned a home before and are selling, perhaps due to a divorce or needing to buy a bigger home, and cannot afford to buy, you might be eligible for Shared Ownership.

All Shared Ownership properties will have a service charge. If there is not one showing on the listing it will be in the Key Information Document that is available with the listing.

In shared ownership, a service charge is a monthly or periodic payment made by the shared owner towards the cost of maintaining and managing the communal areas of the building or estate. It's separate from the rent paid on the share of the property not owned.

Affordability Calculator

Disclaimer

The figures and estimates shown in this calculator should not be relied on as confirmation of affordability and should only be used as an indicative guide to monthly costs. The monthly rental cost is based on 2.75% on the retained equity (subject to change please ask your sales agent). This will usually increase by the annual rate of RPI. The monthly mortgage cost is based on a Variable Rate Mortgage at 4.75% over a 30-year repayment loan. Other costs will apply such as service charge. Sage Homes is not authorised or regulated by the Financial Conduct Authority to provide financial advice. You should always seek advice and recommendations from an independent financial advisor regarding mortgage products, affordability, interest rates, repayment methods and terms and conditions. You should also seek independent legal advice. Your home may be repossessed if you do not keep up payments on a mortgage or any other loan secured against it.

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