3 bedroom house for sale

Under Offer

Lancaster Lane, CB11 3GL

£213,750 · Shared Ownership Resale

Share percentage 50%, full price £427,500, £21,375 Min Deposit.

Under Offer
3 bedrooms
1 Bathroom
Private Garden
Pets allowed
Parking
£213,750 Shared Ownership Resale · Eligibility Eligibility

Share percentage 50%, full price £427,500, £21,375 Min Deposit.

Monthly Cost: £1,588
Rent £457, Service charge £46, Mortgage £1,085*

Calculated using a representative rate of 4.64%

Calculate estimated monthly costs

£
Eligibility

Be eligible for the shared ownership scheme

Be a first time buyer or not currently named on a mortgage

Demonstrate you meet the minimum income requirements

Demonstrate a deposit sufficient to obtain a mortgage for the property

Summary

Three-bedroom detached house

Description

This three-bedroom detached house is an ideal opportunity to get on to the property ladder with Hastoe. This property is being sold under the shared ownership scheme whereby you purchase a share in the property and pay a reduced rent on the remaining Hastoe equity.

Costs:

Full Market Price: £427,500

Minimum Share: 50%

Share Value: £213,750

Monthly Rent: £457.44

Service Charge PCM (including buildings insurance): £45.52

Total Monthly Charge: £502.96

Next rental increase: April 2024

Apply online via the Hastoe sales website

What is shared ownership?

Shared ownership is a scheme designed to help those who wouldn’t otherwise be able to purchase a home of their own. This may be because you can’t meet the full mortgage repayments, save a sufficient deposit, or both. With shared ownership, you buy a percentage of your home and pay a reduced rent on the share you don’t own

If you eventually own your home outright, you’ll no longer pay rent, but may continue to pay a service charge.

How does shared ownership work?

You will buy a percentage share of a home, independently priced at market value. Hastoe will charge you rent on the share you don’t own plus a service charge. This service charge covers things like buildings insurance and estate maintenance.

About Hastoe:

Hastoe owns and manages over 7,500 homes in 70 local authority areas. Our properties are predominantly rural and we specialise in providing sustainable and affordable rural housing to enable local people to remain within their communities

Key Features

Driveway parking

Fitted kitchen

Dining room

Gas central heating

Double glazing

Over-bath shower

Private garden

Downstairs WC

Ability to own 100%

Measurements:

Kitchen: 2.38m x 3.20m

Living room: 5.00m x 3.59m

Dining room: 4.38m x 2.30m

Bedroom 1: 4.65m x 2.45m

Bedroom 2: 4.40m x 2.45m

Bedroom 3: 3.78m x 2.23m

Bathroom: 1.99m x 2.17m

Garden: 7.97m x 9.22m

Particulars

Tenure: Leasehold
Lease Length: 112 years
Council Tax Band: D

Property Downloads
Brochure Price List Energy Certificate
Map
Audley End (2.03 miles) Newport (Essex) (2.95 miles) Great Chesterford (3.83 miles)
Monthly Cost Calculator

The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.

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  • 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.

£213,750
Shared Ownership Resale
Estimated Monthly Cost:£1,588
Rent £457
Service Charge £46
Mortgage £1,085

Share percentage 50%, full price £427,500, £21,375 Min Deposit. Calculated using a representative rate of 4.64%


Hastoe Housing Association
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Disclaimer
The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.