Sphinx Drive coventry CV3 1WA

The Development Introducing The Spires - a vibrant new residential development and the start of a new community for Coventry. The Spires represents a brand-new extension of the local community and sustainable redevelopment of currently derelict land, delivering much-needed affordable and high-quality homes for residents.

With 106 plots available through Shared Ownership, this development represents a fantastic opportunity for families in the area who want to purchase their dream home in a vibrant and exciting destination. The development itself comprises 2, 3 and 4-bedroom homes delivering a broad range of options for buyers in terms of property size whilst maintaining a consistently high standard of build.

Each plot features contemporary fixtures and fittings, ensuring an energy-efficient home that doesn't compromise on quality and feel. Platform is excited to be a part of delivering this landmark new development, ensuring there are affordable homes available for those seeking new houses in Coventry.

The Property The Francis is a three bedroom semi-detached home, available now with Shared Ownership.

Upon entering the ground floor, you are greeted by an a entrance hall, with the downstairs WC and stairs in front of you. The kitchen/diner is accessed to the rear of the hall, and lounge to the side.

On the first floor, there are three bedrooms with a storage cupboard, and a family bathroom with a shower over bath.

Show Home is available for viewings once you have qualified for purchase through Shared Ownership - viewings by appointment.

Prices

£30,000 for a 10% share (deposit from £1,500) Monthly Rent on remaining share £618.75

£75,000 for a 25% share (deposit from £3,750) Monthly Rent on remaining share £515.63

£120,000 for a 40% share (deposit from £6,000) Monthly Rent on remaining share £412.50

£150,000 for a 50% share (deposit from £7,500) Monthly Rent on remaining share £343.75

£225,000 for a 75% share (deposit from £11,250) Monthly Rent on remaining share £171.88

Other shares can be purchased subject to an affordability assessment. Examples of deposit rates are based on our minimum required deposit rate of 5%. However please seek financial advice to confirm what deposit rate is available to you.

Council Tax TBC -these properties are new build and banding has not yet been set.

Service Charge - A service charge will be charged against the property and is paid monthly with your rent payment. The service charge is reviewed on an annual basis on April 1st. This will include Buildings insurance, management and any communal/estate charges that may be covered (if applicable). The service charge displayed is estimated based on the initial assessment of the scheme, please contact the sales consultant for details.

Ground Rent - Not applicable

Homes England Key Information Document - please refer to our website to read through our key information document for this property. This will include pricing details, eligibility and some lease information.

NEXT STEPS: 1. For further information, please download our brochure below. 2. TO APPLY NOW, please send an enquiry to Platform Home Ownership and the relevant sales consultant will send you an application form to complete. 3. Upon receipt of your application, once approved, we will refer you for an affordability assessment to determine the most affordable share for you. 4. Once you have passed the affordability assessment, we will then be in contact to confirm the availability. 5. If there is a suitable property we will then send you an offer letter and advise on how to pay your £250.00 reservation fee for your new home.

Shared Ownership is a fantastic opportunity if you're an unable to purchase a home 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 part that you do not own. Over time, you can purchase more shares in your property - this is known as 'staircasing'. This can be done at any time after initial purchase and it will reduce the amount of rent you pay, as the share of the home that you do not own will have got smaller. We will offer shares between 10-75% of the property value depending on the outcome of the affordability assessment. The higher the share you purchase, the lower your 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 enable you to purchase a share outright. Deposit amounts will be lower than purchasing a property on the open market also the combined cost of mortgage and rent is often cheaper than privately renting in the area. For more detailed information and your obligations in relation to shared ownership please download our 'Guide to Shared Ownership'

Am I eligible? Shared Ownership uses the following criteria to help people to get onto the property ladder: - Maximum annual household income of £80,000. - Unable to purchase a home suitable for your needs.

Please visit the Homes England website for further guidance using the Homes England Eligibility Checker.

*Please note some images are typical and should be used as a guide only