Holt Gardens

Middleton Cheney is a village in Northamptonshire, just 10 minutes from Banbury and home to around 3,500. Sat in a beautiful part of Northamptonshire countryside, Middleton Cheney has all of the amenities you’d expect of village life, as well as a thriving community atmosphere and a relaxed pace of life.

The village is home to three schools - serving children of all ages - all of which are rated ‘Good’ by Ofsted. The secondary school, Chenderit School, also has an ‘Outstanding’ rated sixth-form provision for older students.

In terms of local amenities, Middleton Cheney has everything you might need including a supermarket, pharmacy, vets, sports and social club, cafes, independent shops and beautiful green spaces. The village is home to two 18th-century pubs, the New Inn and the Dolphin Inn, serving local ales and usual favourites.

Due to its proximity to the M40, Middleton Cheney has excellent transport links to Birmingham and London, with Oxford and Milton Keynes also not far away.

Middleton Cheney is also just 10 minutes from Banbury, a large and historic market town that offers even more extensive transport links, bars, restaurants and shopping. Banbury is ideal if you’re looking for a more vibrant atmosphere or want to enjoy a day with some retail therapy and drinks.

If you’re looking for shared ownership houses in Northamptonshire please pre-register your interest for Holt Gardens and we will contact you with further information.

Shared ownership is a fantastic opportunity if you’re unable to purchase on the open market. It allows you to buy a share in a property on a part-buy/part-rent basis and pay a subsidised rent on the share you do not own.

Over time, you can purchase more shares in the property via the staircasing process. This can be done at any time after initial purchase and reduces the amount of rent you pay.

We offer shares between 25% and 75% of the property value depending on the outcome of your affordability assessment. The higher the share you purchase, the lower the rent will be. You will need to be able to obtain a mortgage for the share you want to purchase unless you have sufficient funds to purchase outright. Deposit amounts will be lower than purchasing a property on the open market, while the combined cost of mortgage and subsidised rent is often cheaper than privately renting

Shared ownership uses the following criteria to help people get onto the property ladder: 

Maximum annual household income of £80,000 

Unable to purchase a home suitable for your needs

If you think that you’re eligible and interested, please get in touch with us today. 

The development is made up of two, three and four-bedroom homes, ideal for families seeking a relaxed pace of life surrounded by amenities.

The village is home to three schools - serving children of all ages - all of which are rated ‘Good’ by Ofsted. The secondary school, Chenderit School, also has an ‘Outstanding’ rated sixth-form provision for older students.

Due to its proximity to the M40, Middleton Cheney has excellent transport links to Birmingham and London, with Oxford and Milton Keynes also not far away.

Middleton Cheney is also just 10 minutes from Banbury, a large and historic market town that offers even more extensive transport links, bars, restaurants and shopping

Middleton Cheney has everything you might need including a supermarket, pharmacy, vets, sports and social club, cafes, independent shops and beautiful green spaces. The village is home to two 18th-century pubs, the New Inn and the Dolphin Inn, serving local ales and usual favourites.

Most buyers who can’t afford to buy a home outright can apply to buy through shared ownership.

We may also be able to help if you need to move because of a relationship breakdown or if your work requires you to live in an area outside your price range.

In order to buy through the Shared Ownership scheme, you must be able to demonstrate that you can afford and sustain home ownership. If you proceed with Shared Ownership you will be required to undertake an affordability assessment.

You must meet our adverse credit policy, if you have a history of adverse credit you are unlikely to be accepted depending on individual circumstances.

Shared owners still have to pay many of the usual costs involved in buying a home.

Reservation fee

We will ask you for a £250 deposit to reserve your chosen home. When the sale goes through we put this towards your purchase payments. However, we cannot refund it if the sale does not go through.

Mortgage deposit and fees

Most mortgage lenders will ask for a 5% or 10% deposit towards the price of the share you want to buy. They are also likely to charge a valuation fee and administration fees.

Legal fees

Solicitors’ charges can vary so it is best to get a few estimates. You will also have to pay Land Registry and local search fees, and may have to pay stamp duty depending on the value of the property.

After you've moved in

You also need to budget for the ongoing costs of owning a home.

Mortgage repayments

You will have to make monthly mortgage repayments to your lender. Depending upon the type of mortgage you have, these repayments may vary as interest rates change.

Rent

You pay a subsidised monthly rent to us on the share of your home which we own. The amount is reviewed on the 1st April each year.

Service charges

You will have to pay a small charge if your home has any facilities or communal areas which we maintain, such as shared entrance halls, lighting and grounds. Your service charge will also include your buildings insurance and your management fee.

Household bills

These include your council tax and utility bills for water, gas and electricity.

Repairs

We will arrange for any defects on new-build homes to be repaired during a set time period. After that time has elapsed, you will be responsible for arranging and paying for all repairs to your home.

Home contents insurance

We provide buildings insurance with the cost of your service charge but this does not cover your belongings. We strongly recommend you arrange your own home contents insurance.

Much will depend on your other financial commitments and what property/share you want to buy. We don't want you to be overstretched, so we need to be sure that you can afford to pay your mortgage and rent. We look at each application individually and will advise you on your options.

Shared ownership schemes are backed by government funding to help people on smaller incomes. So you will not qualify for most shared ownership schemes if your household income is less than £10,000 or more than £80,000 a year.

On the property listings for some of our shared ownership homes, you will see that we state a local connection to the area is required.

This generally applies in rural areas and small villages where land has been made available specifically for affordable housing to meet the needs of local people, rather than for private development.

These are known as ‘rural exception sites’ or 'protected areas' and are controlled by ‘Section 106 Agreements’. They aim to help local people and families afford homes in the area where they grew up.

The local connection criteria can vary between different developments, but is usually based on the following:

applicant was born in the area and has lived there for a number of years

applicant has permanently lived in the area for a number of years

applicant used to live in the area for a number of years but had to move away because of the lack of affordable housing

applicant has been permanently employed in the area for a number of years

The number of years is usually between 2 and 5, although this differs by local authority

Usually priority is given to applicants with a local connection to the parish. If there are still properties remaining, allocation will be opened up to surrounding parishes and then to the whole of the local authority area. This ensures that the homes are occupied by residents as local to the area as possible.

If you want to find out more about the local connection criteria for a particular development, or check if you qualify, please email sales@platformhg.com

Yes you can, once you have moved into your Shared Ownership property, providing you can afford it, you are able to buy more of your home through the process of Staircasing.