3 bed terraced house for sale

Lilywhite Drive, Cambridge CB4

Shared ownership (Advertised price represents 35% share. Full market value £750,000). A rare chance to buy such a spacious shared-ownership family home. The smartly-presented, mid-terrace property is part of a modern development just to the north of the River Cam. There is a study and cloakroom just off the entrance hall with the remainder of the ground floor devoted to an open-plan kitchen/reception room with attractive flooring, sleek, handle-less units and integrated appliances. A glazed door provides access to the south-west-facing rear garden. On the first floor are two double bedrooms and a bathroom large enough to include a separate shower cubicle. A second flight of stairs leads to a generously-sized main bedroom with en-suite shower room and to a 170 sqft roof terrace. Well insulated walls, roof and floor, high performance glazing and gas central heating all contribute towards a very good energy-efficiency rating. The house has a front driveway and there are also a number of, shared, visitor spaces at the end of the terrace. Lilywhite Drive is close to Chesterton sports Centre and the Cambridge Tennis Academy. Victoria Bridge, Jesus Green and Midsummer Common are just a short walk away and the city centre can be easily reached by bus or bike. Ofsted list three 'Good' primary schools within half a mile and the nearby secondary is rated 'Outstanding'.

Interested parties are required to complete the shared ownership common application form [ ]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Clarion.
Tenure: Leasehold (125 years from 01/04/2016).
Minimum Share: 35% (£262,500). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £1216.52 per month (subject to annual review).
Service Charge: £47.81 per month (subject to annual review).
Guideline Minimum Income: Dual - £78,400 (based on minimum share and 40% deposit £105,000) Single - £78,800 (based on minimum share and 55% deposit £144,375).
Council Tax: Band E, Cambridge City Council. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone.

What is shared ownership ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (gla) in London and Homes England outside of London.

Is shared ownership for you ?

The gla and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or eea Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.

Ground Floor

Study
7' 10" x 7' 0" (2.39m x 2.13m)

Cloakroom

Reception
19' 7" max. X 15' 1" max. (5.97m x 4.60m)

Kitchen
included in reception measurement

First Floor

Bedroom 2
15' 1" max. X 10' 0" max. (4.60m x 3.05m)

Bathroom

Bedroom 3
12' 4" x 7' 0" (3.76m x 2.13m)

Second Floor

Bedroom 1
15' 10" max. X 11' 3" max. (4.83m x 3.43m)

En-Suite Shower Room

Terrace
15' 6" x 11' 3" (4.72m x 3.43m)