1/40
£142,000
3-bedroom house available in Colchester through Shared Ownership - available now!
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.
3-bedroom house available in Colchester through Shared Ownership - available now!
A well presented 3-bedroom, semi-detached house available through Shared Ownership Re-sale in Colchester. This property offers three great-sized bedrooms, a generous private garden, off road parking for two, and stunning views of open green fields.
Key Features
- Three spacious bedrooms
- Energy efficient home - EPC Rating: B
- Private garden with shed
- Private parking for two cars
- Excellent transport links to London Liverpool Street from Colchester Station
- Fitted kitchen with integrated oven
- Downstairs WC
- Plush fitted carpets in both bedrooms for added comfort
- Lease length: 987
Key Information
- Tenure: Shared Ownership
- Available Shares from: 40%
- Full Market Value: £355,000
- Share Value (initial purchase) from: £142,000
- Rent (on unsold equity): £543.92
- Service Charge: £22.62 per month
- Lease Length: 987 years
- Council Tax Band: D
- EPC Rating: B
Please note that higher shares may be available to purchase. The final share amount will be discussed and agreed upon during your financial assessment.
Location
Located in Colchester, this home offers convenient access to a wide range of local amenities including supermarkets, schools and, parks. Colchester provides excellent transport links with regular train services to London Liverpool Street, Ipswich and, Norwich. Major road connections such as the A12 and A120 are easily accessible, making commuting simple. Situated on a quiet estate with plenty of country walking footpaths and local parks right on your doorstep.
Eligibility
Shared Ownership is designed to help first-time buyers and those who do not currently own a home get onto the property ladder.
To be eligible, you must:
- Have a household income of under £80,000
- Be unable to purchase a suitable home on the open market
- Have a good credit history and be able to obtain a mortgage
Shared Ownership is a government-backed scheme that helps people get on the property ladder. You start by buying just a share of your home. You'll typically only need a 5% deposit of the share you purchase, making it more affordable to get started. Buying a smaller share also means it can be easier to secure a mortgage and take your first step onto the property ladder.
You can buy more shares of your home at any time in the future, working towards owning your home outright.
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.
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