Shared Ownership in Essex, Colchester 2 bedroom Semi-Detached House

  • £340,000

    Equity share: 50% / £170,000

Coggeshall Mill- Plot 16
For Sale Shared Ownership

Shared Ownership in Essex, Colchester 2 bedroom Semi-Detached House

Coggeshall Mill- Plot 16
  • £340,000

    Equity share: 50% / £170,000

Property Overview

  • Semi-Detached House
  • Property Type
  • 2
  • Bedrooms
  • 1
  • Bathroom

Property Description

Shared Ownership

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

Coggeshall Mill is situated in the idyllic market town of Coggeshall, where it has historically been known to produce the finest of silks and best of Ales. Coggeshall Mill is well connected to some of Essex’s most charming places, you’ll be able to enjoy your new countryside lifestyle while still being only 9 miles away from Colchester for all your shopping and entertainment needs. The town of Coggeshall is home to many amenities, too, so you won’t have to travel far to get your essentials.

Coggeshall is a quaint and highly regarded village renowned for its listed buildings and dates back to at least Saxon times. It retains a real community spirit with activities and social groups attractive to all ages.

There are regular events held by the community and the Parish Council which attract visitors from afar. There are also a variety of shops, pubs, a post office and highly regarded restaurants. There is comprehensive schooling including the Honywood Community Science Secondary School, St Peter’s Primary School and the Montessori nursery “Absolute Angels”.

The village holds a market every Thursday which has been a regular event since 1256. Kelvedon mainline station is within 3 miles and the Coggeshall community bus makes regular trips in mornings and evenings which many commuters find an essential service. The nearby A12 and A120 provide access to other parts of the region notably Colchester, Chelmsford, Braintree and Stansted Airport.

This brand new semi detached home features a spacious kitchen/diner at the back of the house with a separate living room, ground floor cloakroom, two double bedrooms, bathroom, parking and a garden.

PRICING & AFFORDABILITY

Approximate Size 851 sq ft

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: £56.02 pcm*
Shared Ownership Lease: 125 years
Council Tax Band: TBC

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 Cogglesall Mill you can buy a minimum 50% 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.

Sown Shared Ownership are part of the Leaders Romans Group and are selling the homes on behalf of Sage Homes. Sage Homes is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Homes visit www.sagehomes.co.uk.

Property Address

Open on Google Maps
  • Address Coggeshall Mill- Plot 16
  • City Colchester
  • County Essex
  • Postal Code CO6 1RP

Details

Updated on February 14, 2024 at 1:18 pm
  • Property ID: MS-122536
  • Rental Amount Per Month: £390/Month
  • Bedrooms: 2
  • Bathroom: 1
  • Property Type: Semi-Detached House
  • Property Status: For Sale, Shared Ownership
  • Estimated Monthly Service Charge (£): 56.02
  • Value Of The Equity Share: 50% / £170,000
  • Overall Property Value: £340,000
  • Tenure: Leasehold
  • Length of Lease: 125

Contact SOWN about: Shared Ownership in Essex, Colchester 2 bedroom Semi-Detached House

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