3 bedroom house for sale
Mionnow Street, CM6 4BR
Share percentage 40%, full price £470,000, £9,400 Min Deposit.
Share percentage 40%, full price £470,000, £9,400 Min Deposit
Monthly Cost: £1,715
Rent £646,
Service charge £22,
Mortgage £1,047*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
At Great Dunmow Grange you can buy an initial maximum 75% share of your home When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value.
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.
Summary
This brand new home is available to buy from as little as £188,000 with a 40% share!
Description
Home to a variety of everyday amenities in a sought-after location, Great Dunmow provides a tranquil retreat with access to all of the essentials. The popular town is known for its independent retailers, with traditional homeware stores, stylish boutiques, salons and cosy coffee shops. Supermarkets are located close to home including Tesco and Co-op, whilst a wide range of pubs, restaurants and takeaways are also on the doorstep.
The larger towns of Bishops Stortford and Braintree are approximately 10 miles away whilst the City of Chelmsford is just 14 miles from Great Dunmow. For those travelling further afield, London Liverpool Street is just 45 minutes by train from Bishop’s Stortford, and the M11 is less than 10 miles via the A120. Stansted Airport is just five miles away from the development.
The exciting community will feature public open space with equipped play areas for welcome recreation. Adjacent to the A120, this growing community opens the door to a wealth of commuting opportunities with road links to Chelmsford, Colchester, London and Cambridge being easily accessible for those travelling for work or leisure. Living at Great Dunmow Grange, you can enjoy the finest aspects of town and countryside living. Peaceful evenings and weekends await, whilst the thrill of the hustle and bustle of a flourishing town is still only moments away.
This brand new semi detached home features a kitchen/diner at the back of the house, overlooking the garden with a separate lounge and a ground floor cloakroom. To the first floor are three bedrooms and a bathroom. Externally the property benefits from parking and a rear garden.
PRICING & AFFORDABILITY
Approximate Size 1,001 sq ft
Full Market Value: £470,000
40% Share Price: £188,000 (rent £646.25pcm)
50% Share Price: £235,000 (rent £538.54pcm)
75% Share Price: £352,500 (rent £269.27pcm)
Minimum 5% Mortgage Deposit (40% share): £9,400
Approximate Service Charges: £21.82 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC
Key Features
Brand new Shared Ownership home
Parking
Garden
Close to local amenities
Easy access to Stanstead Airport
Kitchen/diner
Particulars
Tenure: Leasehold
Lease Length: 990 years
Council Tax Band: New build - Council tax band to be determined
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: Yes - Off Street
Outside Space/Garden: Yes - Private Garden
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- Rent: This is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes).
- Service Charge: Covers maintenance and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 40%, full price £470,000, £9,400 Min Deposit. Calculated using a representative rate of 5.03%
