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£94,500
Well-presented one-bedroom Shared Ownership apartment with garden access in Colchester
You can apply to buy the home if all of the following apply:
- your household income is £80,000 or less
- you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs
One of the following must also be true:
- you're a first-time buyer
- you used to own a home but cannot afford to buy one now
- you're forming a new household - for example, after a relationship breakdown
- you're an existing shared owner, and you want to move
- you own a home and want to move but cannot afford to buy a new home for your needs
If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.
As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.
A well-presented one-bedroom ground floor apartment available through the Shared Ownership scheme, offering an excellent opportunity for first-time buyers to step onto the property ladder in a convenient and well-connected location. Built in 2006 and offered unfurnished, the home is in good decorative order throughout.
The property features a bright open-plan living/kitchen area, creating a sociable and practical main living space. Patio doors open directly onto a paved area and garden space, providing welcome outdoor access. The bedroom benefits from a built-in cupboard, with additional storage available in the hallway. A modern bathroom and gas central heating via a gas boiler add further comfort and efficiency.
This is a well-balanced home, ideal for those seeking their first home, convenience and outdoor space.
Key Features
- One-bedroom ground floor apartment
- Shared Ownership resale opportunity
- Open-plan living and kitchen area
- Patio doors leading to paving and garden area
- Built-in storage to bedroom and hallway
- Gas central heating via gas boiler
- EPC Rating C
Key Information
- Tenure: Shared Ownership
- Available Shares from: 70%
- Full Market Value: £135,000
- Share Value (initial purchase) from: £94,500
- Rent (on unsold equity): £0
- Service Charge: £127.52 per month
- Lease Length: A new lease of 99-years will be granted.
- Council Tax Band: B
- EPC Rating: C
Location
Ideally positioned for commuters and coastal living alike, the property is within walking distance of Colchester Train Station (approx. 10 minutes), providing direct links to London Liverpool Street in around 50 minutes, as well as Chelmsford and Ipswich in approximately 20 minutes. The coast is also within easy reach, with the sandy beaches of Frinton, Clacton and Walton around a 30-minute drive away. Road connections are excellent via the A12, A14 and M25.
Please note that there is no allocated parking however a parking permit is available with spaces on a first come first served basis. This sale will be completed via a surrender and re-grant, meaning the buyer will receive a new 99-year lease on completion.
You can add locations as 'My Places' and save them to your account. These are locations you wish to commute to and from, and you can specify the maximum time of the commute and by which transport method.
Red Loft