Address Northaw Road, Cuffley, Hertfordshire, EN6 3RD

Number of Bedrooms 1, 2, 3 & 4 bedroom homes

Price From £206,500 for a 35% share (3 bedroom house)

An exclusive development of new affordable homes consisting of one-, two-, three-, and four-bedroom apartments and houses in the desirable village of Cuffley, Hertfordshire.  All homes boast thoughtful design and benefit from a range of energy efficient features.

 

Situated in one of Hertfordshire’s most sought-after locations, our affordable homes in Cuffley offer a range of homes for Affordable Rent, Social Rent and Shared Ownership. The eight Shared Ownership homes consist of two-, three-, and four-bedroom houses and are ideal for first time buyers. All Shared Ownership houses benefit from integrated kitchen appliances, smart heating technology, integrated wardrobes in master bedroom, carpets to living areas, private parking (x2) with electric vehicle charging, rear garden turf and more.

 

The development is located approximately 0.5 miles from the village centre with easy access to range of local shops, good schools, supermarket, and a mainline station which offers quick services from Cuffley to Finsbury Park, London (29 minutes) and Moorgate, London (45 minutes). Excellent road links with the M25 and A10 just 15 minutes away by car. Several bus routes also operate in the immediate area.

King George's Vale CGI Image

Local Authority:

Welwyn Hatfield Borough Council

Housing Mix:

1, 2, 3 and 4 bedroom homes for affordable rent, shared ownership and social rent

Completion Date:

From July 2024

Key Features Cuffley

Shared Ownership Sales

We currently have an exclusive collection of 4 x three bedroom houses and a 1 x 4 bedroom house available for Shared Ownership available at this development.

 

 

 

Sales Agent

First Step Logo

To enquire about this development please contact Claudia@firststep.ltd

  For more details, please click on the house plans below.

Home 2 Home 3

Home 4 Home 5

Site Layout

Please note that, these properties are still being built therefore a viewing can’t be arranged & the properties are only available to be reserved off plan. Due to varying stages of construction, photographs may be of similar properties and are intended to give an idea of the finish of the properties being built

Site Layout Cuffley

Shared Ownership FAQ's

What is Shared Ownership?

Shared Ownership is an alternative home ownership product for buyers who would like to purchase a property but can’t afford to buy on the open market. Shared Ownership costs are usually lower than other housing options for several reasons:

  • The rent is less than the rate charged on the open market and usually charged at 2.75% of the value of the rented share per annum.
  • With most new developments from 2024, buyers can start with as little as 10% if buying through the updated Shared Ownership model.
  • Depending on your financial circumstances, a buyer’s deposit will normally be 5-10% of the price of the share, not of the full market value of the whole property.
  • Stamp Duty Land Tax (SDLT or simply ‘Stamp Duty’) can generally be deferred until your share reaches 80%.

 

When I part-buy part-rent my home, what am I buying?

Shared Ownership allows you to buy a percentage of a property, paying a mortgage on the share you own and rent to First Garden Cities Homes on the remainder. You will be buying a leasehold house or apartment, and this will be either a new build or resale home.

Shared owners have the option to buy further shares in their home. This is a process known as ‘staircasing’ – and in most cases Shared Owners could staircase all the way to 100%. The price of buying further shares will be based on an independent valuation at the time that you purchase the further share. You can find out more about the process of buying additional shares in this staircasing guide.

 

Who is eligible for Shared Ownership?

There are several eligibility requirements that anyone wishing to buy a Shared Ownership home must meet. The general eligibility criteria for Shared Ownership is as follows:

  • Buyers must be at least 18 years old
  • Outside of London an annual household income must be less than £80,000
  • Shared Ownership purchasers are often first time buyers but if a buyer already owns another home then they must be in the process of selling it
  • Buyers should not be able to afford to buy a home suitable for the their housing needs on the open market
  • Buyers must show that they are not in mortgage or rent arrears
  • Buyers must be able to demonstrate that they have a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home
  • Buyers should have savings or be able to easily access at least £4,000 to cover the costs of buying a home; this is a guideline figure and the actual amount may vary.
  • Buyers will also need access to the deposit amount required. For Shared Ownership, this will usually be 5-10% of the equity share you are buying but this will depend on the property and affordability

The location of the Shared Ownership home may also mean there are additional criteria points that need to be met before a buyer can be considered (e.g. rural homes).

 

How is Shared Ownership changing?

A new model for the sale of Shared Ownership properties was launched from April 2021 which means the following for buyers purchasing a home through Shared Ownership on most of our latest schemes:

  • The minimum initial share buyers are able to purchase has been lowered to 10%, compared to the current 25%
  • The introduction of a 10-year repairs and maintenance warranty
  • The introduction of longer leases on new build homes
  • Buyers will be able to buy additional shares (also known as ‘staircasing’) in 1% increments, compared to the current 10%
  • There will be shorter nomination periods for shared owners who are looking to sell their home