Mercia Reach, Tamworth

Mercia Reach is offering a great opportunity to purchase spacious two bedroom homes with shares available to purchase from 40%. Offering two car parking spaces and turfed gardens. Call our Shared Ownership team today to discuss the options available.

A beautiful collection of new 2 and 3 bedroom homes available with Shared Ownership in Tamworth, Staffordshire.
Whether you are looking for your first home or need more room to accommodate a growing family, the homes at Mercia Reach are the perfect place to put down roots of your own.

Located within walking distance to the well-known Ventura Park and nearby to Ankerside shopping centre, you will be spoilt for choice with a Sainsbury’s and Asda super centre for all of your everyday shopping needs.
There are also Ofsted ‘outstanding’ rated schools, local markets, a GP surgery, Post Office and restaurants right on your doorstep. Your new home at Mercia Reach is the perfect base to explore all the amenities that Tamworth has to offer.

Looking to save money on bills and live more sustainably? Every home at Mercia Reach has been built with a high standard of insulation that helps keeps your heat in and your bills affordable. Buying a new home at Mercia Reach means your new place is often more energy efficient than an older home of the same size giving you the best of both worlds.

Legal & General Affordable Homes is offering a unique opportunity to purchase a new home here through Shared Ownership. Thanks to this scheme, you can own your own home with a lower deposit than is required to buy outright or with other buying schemes.

How Does Shared Ownership Work
The Shared Ownership scheme is simple, you buy an initial share of between 40% and 75% of the homes full value and pay a subsidised rent on the remainder.
You may purchase further shares (up to 100%) as your circumstances change, should you choose to.

Is It Cheaper Than Renting
Shared Ownership can be cheaper than renting privately as the mortgage cost and low rent usually add up to less than the equivalent rental payments to a landlord.

What If I Already Have A Home
If you already own a property you would need to have confirmed the sale of your home when you apply to buy via Shared Ownership.
Your application would be assessed based on your housing need for you to be considered for Shared Ownership.

Will I Need A Deposit
Yes you still need a deposit, but only on the percentage of the property you are buying. Mortgage deposits can often be from 5% of the share value.

What Is The Eligibility
If you earn or have a household income up to a maximum of £80,000 (or £90,000 in London) per annum, you could be eligible. You can also use Shared Ownership to buy alone or with another person as long as your joint incomes don't exceed the maximum earnings bracket.

What Share Is Available to Me
You can purchase any share from 40% to 75% of the initial purchase price, but some properties may carry specific minimum share restrictions. You will be asked to speak to a financial advisor to assess what share you can buy that is both affordable and sustainable.

Agents Notes:
Images used are for illustrative purposes only and are not Plot specific.

We take every care to ensure that the correct information is provided. The company employs a policy of continuous improvement and reserves the right to alter or amend the specification at any time and is subject to change. Details are correct at the time of going to print.