*Move in from £121 per week terms and conditions: based on a 25% share, 5% deposit shared ownership arrangement on a one-bedroom property value of £205,000, as illustrated in Example 1 below. This is based on the combined monthly mortgage and rental payment of £526.92. Per week this is £121.59 based on 12 combined monthly mortgage and rental payments. After the two-year fixed rate has expired and the client does not remortgage, they will move onto the lender’s Standard Variable Rate (SVR) of 3.95% increasing the monthly remortgage repayment to £213.73. The monthly rental will remain at £320.31 so the combined monthly mortgage and rental payment will be £534.04. Per week this is £123.24 meaning the customer will no longer benefit from ‘Move in from £121 per week’. All information is correct as of 09/09/2021. Rates are from Newbury Building Society and are subject to change.There is no guarantee your weekly combined mortgage and rental amount will be £121.59 for your full mortgage term (ie: 35 years). Please note: This is not a weekly payment and must be paid each month on time. Your home may be repossessed if you do not keep up monthly repayments on your mortgage. 


Below are indicative examples. The amount you take as a share can vary and rates can vary by length of term and levels of deposit. We recommend seeking the advice of a mortgage broker to get a complete overview.

One-bedroom apartments valued at £205,000

Apartment 7SO / Apartment 3SO/4SO

Example 1: 25% share, 5% deposit

  • Purchase Price £205,000
  • 25% £51,250
  • 5% deposit of share = £2,563
  • Mortgage = £48,687
  • Length of mortgage term: 35 years
  • 2 year Fixed
  • Lender: Newbury Building Society
  • Monthly payment - £206.61
  • Initial Interest rate - 3.69%
  • Initial number of months on the borrowing rate - 28
  • SVR payment – £213.73
  • SVR rate – 3.95%
  • Number of months on the SVR - 392
  • APRC – 4%
  • Fees – None
  • Total amount payable (including fees) over the term of the mortgage – £89,568.47
  • Annual Service Charge c. £1160 (still in negotiations for £ and pence)
  • Monthly Rent - £320.31

Example 2: 75% share, 5% deposit

  • Purchase Price £205,000
  • 75% £153,750
  • 5% deposit of share = £7,688
  • Mortgage = £146,062
  • Length of mortgage term: 35 years
  • 2 year Fixed
  • Lender: Newbury Building Society
  • Monthly payment - £619.85
  • Initial Interest rate - 3.69%
  • Initial number of months on the borrowing rate - 28
  • SVR payment – £641.20
  • SVR rate – 3.95%
  • Number of months on the SVR - 392
  • APRC – 4%
  • Fees – None
  • Total amount payable (including fees) over the term of the mortgage – £268,707.25
  • Annual Service Charge c. £1160 (still in negotiations for £ and pence)
  • Monthly Rent - £106.77
Two-bedroom apartments valued at £265,000

Apartment 2SO/5SO / Apartment 1SO/6SO / Apartment 8SO/13SO / Apartment 21SO

Example 3: 25% share, 5% deposit

  • Purchase Price £265,000
  • 25% £66,250
  • 5% deposit of share = £3,313
  • Mortgage = £62,938
  • Length of mortgage term: 35 years
  • 2 year Fixed
  • Lender: Bath Building Society
  • Monthly payment - £263.41
  • Initial Interest rate - 3.59%
  • Initial number of months on the borrowing rate - 24
  • SVR payment – £563.58
  • SVR rate – 4.9%
  • Number of months on the SVR - 396
  • APRC – 4.8%
  • Fees – Booking Fee £125, Valuation Fee £340
  • Total amount payable (including fees) over the term of the mortgage – £129,629.63
  • Annual Service Charge c. £1320 (still in negotiations for £ and pence)
  • Monthly Rent - £414.06

Example 4: 75% share, 5% deposit

  • Purchase Price £265,000
  • 75% £198,750
  • 5% deposit of share = £9,938
  • Mortgage = £188,812
  • Length of mortgage term: 35 years
  • 2 year Fixed
  • Lender: Bath Building Society
  • Monthly payment - £790.22
  • Initial Interest rate - 3.59%
  • Initial number of months on the borrowing rate - 24
  • SVR payment – £934.16
  • SVR rate – 4.9%
  • Number of months on the SVR - 396
  • APRC – 4.8%
  • Fees – Booking Fee £125, Valuation Fee £340
  • Total amount payable (including fees) over the term of the mortgage – £388,890.94
  • Annual Service Charge c. £1320 (still in negotiations for £ and pence)
  • Monthly Rent - £138.02

Terms and Conditions: Dependent on income, circumstances and rates. Based on a monthly commitment with a mortgage. Applicable on featured properties at Brooklands Square. Information correct as of 09/09/2021. Indicative costs - rates are subject to change. All loans are subject to credit approval and can vary upon credit score and loan to value. Your home may be repossessed if you do not keep up repayments on your mortgage. For illustration purposes only.

 

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2 Brooklands Square,
Milton Keynes
MK10 7NP

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Email: sales@brooklandsmk.co.uk

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