1 bedroom apartment for sale
Plot 21 - Lodge Field, CO7 6FN
Share percentage 40%, full price £225,000, £4,500 Min Deposit.
Share percentage 40%, full price £225,000, £4,500 Min Deposit
Monthly Cost: £872
Rent £309,
Service charge £62,
Mortgage £501*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
ELIGIBILITY
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 Constable Gardens, you can buy a minimum 35% share of your home (the maximum you can buy initially is 75%). 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 be subject to change.
Pet policy applies, please contact for further information.
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 £90,000 with a 40% share!
Description
Shared Ownership
This brand new home is available to buy from as little as £90,000 with a 40% share!
Constable Gardens is a brand new development of homes situated within the village of East Bergholt. The village has the benefit of a good range of local facilities including a general store and post office, baker, chemist, GP surgery and medical centre. Parish, Congregational Churches and many local associations. The village provides educational facilities from pre-school age to GCSE, sixth form colleges in Colchester and Ipswich. There are several independent schools in both nearby towns and throughout the area.
A12 links to the M25 and A14. Regional Airport is Stansted, approximately an hour by car. There is a mainline railway station in Manningtree, with a journey time of around an hour to London Liverpool Street. The village is famous for its historical connections with John Constable RA, and the landscape he painted is still very much the same today. From the village, there are numerous footpaths giving direct access into this Area of Outstanding Natural Beauty. The village benefits from a great sense of community and offers attractions for every age demographic.
This brand new first-floor maisonette offers a perfect blend of comfort and functionality. The spacious open-plan kitchen/living/dining area provides an inviting space for relaxation, while the generously sized double bedroom ensures a peaceful retreat. A modern bathroom and convenient storage solutions complete the layout.
PRICING & AFFORDABILITY
Approximate Size: 599 sq ft
Full Market Value: £225,000
40% Share Price: £90,000 (rent £309.38 pcm)
50% Share Price: £112,500 (rent £257.81 pcm)
75% Share Price: £168,750 (rent £128.91 pcm)
Minimum 5% Mortgage Deposit (40% share): £4,500
Approximate Service Charges: £61.56 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC
Key Features
Brand new Shared Ownership home
Open plan kitchen/diner/living room
Parking
First floor
Access to A12 with links to Ipswich and Colchester
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: n/a
Outside Space/Garden: n/a
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 £225,000, £4,500 Min Deposit. Calculated using a representative rate of 5.03%
