3 bedroom house for sale
Monarch Rise - Plot 11, CO2 0JA
Share percentage 45%, full price £375,000, £8,438 Min Deposit.
Share percentage 45%, full price £375,000, £8,438 Min Deposit
Monthly Cost: £1,484
Rent £473,
Service charge £71,
Mortgage £940*
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 Monarch Rise, the advertised share starts at 45% 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 this Shared Ownership development 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 £168,750 with a 45% share!
Description
This brand new home is available to buy from as little as £168,750 with a 45% share!
Discover the perfect blend of countryside charm and modern convenience at Monarch Rise, Layer de la Haye, now offering a limited number of brands new homes available through Shared Ownership.
Located just a few miles from the historic heart of Colchester, Layer de la Haye offers a welcoming village community with all the essentials on your doorstep. Enjoy the ease of everyday living with a local shop, doctor’s surgery, vibrant village hall, and two friendly pubs. Families will appreciate the highly regarded Layer de la Haye Primary School, rated “Good” by Ofsted, making it an ideal setting for young children.
Commuting is simple thanks to excellent transport links. Colchester city centre is a 10-minute drive away, where Colchester North station provides direct trains to London Liverpool Street in under 50 minutes. For those heading further afield, Stansted Airport is within an hour's drive via the A120, and the A12 offers fast connections to Chelmsford, Ipswich, and the M25.
Beyond convenience, the area is surrounded by natural beauty. Whether you're enjoying scenic walks through nearby woodland and nature reserves or heading to the Essex coast for a day at the beach, you’ll never be far from a relaxing escape.
Don’t miss the chance to own a home in one of Essex’s most sought-after locations – with Shared Ownership, your dream home At Monarch Rise could be closer than you think.
This brand new semi detached home features a spacious lounge/diner at the back of the house with a separate kitchen and a ground floor cloakroom. To the first floor are three bedrooms and a family bathroom. Externally is off road parking and a garden.
PRICING & AFFORDABILITY
Approximate Size 1,009 sq ft
Full Market Value: £375,000
45% Share Price: £168,750 (rent £472.66pcm)
60% Share Price: £225,000 (rent £343.75pcm)
75% Share Price: £281,250 (rent £214.84pcm)
Minimum 5% Mortgage Deposit (45% share): £8,438
Approximate Service Charges: £70.56 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC
Key Features
Brand new Shared Ownership home
Spacious lounge/diner
Parking
Easy access to Colchester
Garden
Sought-after location
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 45%, full price £375,000, £8,438 Min Deposit. Calculated using a representative rate of 5.03%
