Fully Reserved at Station Hill
22 February 2021
New to the property market and already popular amongst Shared Ownership buyers, Station Hill offers an impressive collection of spacious two-bedroom apartments a short walk from the mainline train station.
The stylish homes at Station Hill are nestled amidst the centre of the historic market town of Bury St Edmunds; a thriving and popular Suffolk town. For those looking to stay connected, the development is conveniently located opposite the town’s train station and is also a short walking distance to the bustling High Street.
Take a walk inside the fabulous properties and you will be greeted by a contemporary open-plan design, expansive floor to ceiling windows and top-quality flooring throughout. Each kitchen is well appointed, featuring Electrolux appliances, affording you style and substance.
Is security your thing? Access to your home is granted via a video phone system, allowing you to admit entry from the comfort and safety of your own home. In addition, these apartments offer parking for one car as well as secure cycle storage as an added bonus.
Furthermore, with the current working restrictions, the handy second bedroom at our Station Hill development will come in useful as a dedicated ‘working from home’ area. Whether you opt for a sleek corner desk in the spacious room, or a fully-fledged home office set-up – these versatile apartments are a desirable place for that all-important Zoom call.
How does Shared Ownership Work?
The Government-backed Shared Ownership scheme allows you to purchase one of these attractive properties at a fraction of the market price. Curious to know more? Here’s the breakdown:
Let’s say you want to purchase an apartment at Station Hill, valued at £240,000. With Shared Ownership, you don’t need to pay the full amount. You can opt to purchase a 25% share of the property – £60,000. You then need to raise a 5% deposit for your 25% share – just £3,000 – and finally secure a mortgage on the outstanding amount.
When it comes to the deposit, Shared Ownership makes it possible to purchase a Station Hill apartment in beautiful Bury St Edmunds with an initial payment of just £3,000.
Furthermore, if after you’ve moved into the property you decided you want to own your home outright, you can increase your share value to 100% – something we call ‘staircasing’.
For further information get in touch here.