We are pleased to bring to the market this 2 bedroom Terraced House Shared Ownership. It is situated in Braintree, Essex and is available now

This brand new home is available to buy from as little as £119,000 with a 35% share!

Set in the sought-after town of Braintree, Essex, Towerlands Park offers a superb collection of attractive and contemporary two and three-bedroom homes available with shared ownership.

Part of the beautifully landscaped Towerlands Park estate offering residents a stylish and comfortable place to call home. Future plans include play zones, a retail space and a nursery. This exciting new development presents a truly warm and welcoming community.

With all-inclusive contemporary fixtures and fittings, the spacious, light-filled two-storey houses will appeal to singles, couples and families alike. Set on the fringes of rich, rolling green fields, and with the added benefits of private parking, garden, patio and shed, each home offers everything you could wish for and more.

Braintree enjoys excellent road transport links which provide easy access to neighbouring towns, and frequent daily trains directly into the heart of London.

The A120 and A131 both bypass the town, with the A120 connecting to the M11 at J8. The A120 links the town with Bishop’s Stortford and Stansted Airport, and leads to the A12 for Colchester, Ipswich and Harwich International Port.

By rail, Braintree Railway Station is 2 miles from Towerlands Park, with connections to London Liverpool Street in just over an hour. It is only 4 minutes train journey to Freeport Station, so access to the popular designer outlet on the edge of town is a breeze.

This brand new semi-detached home has accommodation featuring an open plan lounge/diner with a separate kitchen and ground floor cloakroom. To the first floor are two double bedrooms and a bathroom. Externally is allocated parking and an enclosed rear garden.

PRICING & AFFORDABILITY

Approximate Size 79 sq m

Full Market Value: £340,000

35% Share Price: £119,000(rent £506.46pcm)
50% Share Price: £170,000 (rent £389.58pcm)
75% Share Price: £255,000 (rent £194.79pcm)

Minimum 5% Mortgage Deposit (35% share): £5,950
Approximate Service Charges: £32.27pcm*

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 Towerlands, you can buy a minimum 40% 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 subject to change.

**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.