4 Kelstern Lane

Property Overview

Offering approximately 1,497 sq ft of accommodation arranged across three floors, this impressive four bedroom detached home provides generous and flexible living space, together with a separate garage.

The ground floor features a welcoming entrance hallway leading to a separate lounge, providing a comfortable space to relax and unwind. To the rear, the spacious kitchen/diner extends across the width of the home, offering plenty of room for family dining and entertaining, with French doors opening directly outside. A convenient downstairs WC and useful storage complete the ground floor.

On the first floor are three well-proportioned bedrooms, providing flexible accommodation for children, guests or home working. A contemporary family bathroom serves this floor.

The second floor is dedicated to the generous principal bedroom, creating a private retreat with its own en suite shower room and additional storage.

Outside, the property benefits from a separate garage, providing approximately 161 sq ft of additional space.

Financial Breakdown:

• Full Market Value: £335,000
• 38% Share Value: £127,300
• Rent on unowned share: £477.40 per month
• Service Charge: £0.00 per month
• Estate Charge: £0.00 per month
• Buildings Insurance: £40.44 per month
• Management Fee: £34.89 per month
• Reserve Fund: £0.00 per month
• Total Monthly Payment (excluding rent): £75.33 per month
• Total Monthly Rent & Charges: £552.73 per month
• Lease Length: Approximately 988 years remaining
• Rent Review: Reviewed annually (Rpi + 0.5%)

What is Shared Ownership?

Shared Ownership offers a more accessible route to homeownership by allowing you to purchase a share of a property’s value, while paying rent on the remaining share.

Over time, you may choose to buy additional shares in your home through a process known as staircasing, potentially increasing your ownership up to 100%. For this property, the maximum share available is 100%, at which point the freehold will be transferred to you.

Deposits and mortgage payments are based on the share purchased, meaning costs can often be lower than purchasing a comparable property outright.

Legal & General Affordable Homes is a Registered Provider delivering Shared Ownership homes and committed to creating well designed communities and supporting buyers throughout their home buying journey.

Eligibility Criteria:

To be eligible for Shared Ownership, your household income must be £80,000 or less and you must be unable to afford the deposit and mortgage payments required to purchase a suitable home outright.

You must also be a first-time buyer, a previous homeowner who can no longer afford to buy, forming a new household, an existing shared owner looking to move, or a homeowner who cannot afford to purchase a new home that meets your needs. If you currently own a home, its sale must complete on or before completion of your Shared Ownership purchase. Eligibility is also subject to financial and credit assessment.

This resale opportunity offers a chance to purchase an established family home through the Shared Ownership scheme, providing a more affordable and flexible route onto the property ladder.

Shared Ownership Disclaimer:

Shared Ownership is subject to eligibility, affordability checks and the terms of the lease. Rent is payable on the share not owned, along with any applicable service charges and other outgoings. Staircasing is subject to a valuation at the time of purchase and additional legal and valuation costs may apply. Priority may be given to applicants with a local connection. All information provided is for guidance only and does not form part of any contract.

Local Area

Fernwood is a popular modern village situated just south of Newark-on-Trent, offering a convenient balance of community living and access to the surrounding Nottinghamshire countryside.

The village provides a range of everyday amenities, including local shops, a primary school, community facilities and green open spaces. Nearby Newark offers a wider selection of supermarkets, shops, cafés, restaurants and leisure facilities.

The location is well placed for commuters, with convenient road connections via the A1 and A46. Newark also benefits from rail services providing connections to Nottingham, Lincoln and London, making Fernwood a well-connected location for those travelling across the region or further afield.