Map
Area stats3 bedroom semi-detached house for sale
Key information
Features and description
- Shared Ownership - 40% Share
- Minimum 10% Initial Share
- Semi Rural Position
- Off Road Parking
- Further Shares Available
- Three Bedrooms
Shared Ownership homes proudly offered by Orwell housing in this wonderful semi rural position within the village of Great Bromley. A fantastic home benefiting from three bedrooms, bathroom, living room, kitchen/diner, garden and allocated parking. This property is marketed on behalf of Orwell housing and is available as part of the shared ownership scheme, the asking price represents a 40% share of the full property value at £340,000 but equity can be purchased with shares available from 10-75% based on affordability. These homes are available to people with a local connection or a person who resides or works within Tendring DC and who is also a person in housing need.
Rooms
Accommodation
Entrance Hall
Ground Floor Cloakroom
Living Room 4.260m x 3.14m (14' 0" x 10' 4")
Kitchen/Diner 5.343m x 2.96m (17' 6" x 9' 9")
Landing
Bedroom 3.970m x 2.818m (13' 0" x 9' 3")
Bedroom 3.043m x 4.015m (10' 0" x 13' 2")
Bedroom 2.960m x 2.45m (9' 9" x 8' 0")
Bathroom
Garden
Parking
What is Shared Ownership?
Shared ownership could be your step on to the property ladder. This home ownership scheme allows you to purchase a share in your home and rent the remaining unowned share . These homes are available to people with a local connection or a person who resides or works within Tendring DC and who is also a person in housing need.
How does Shared Ownership Work?
You buy an initial share from 10-75% of the property's full value based on affordability and pay a subsidised rent on the remaining share you don't own. You may purchase further shares up to 100% of the full property value, as your circumstances change, although there is no obligation to do so. You will be asked to speak with a Financial Advisor to assess what share you can buy, ensuring this is both affordable and sustainable, based on your circumstances.
Shared ownership can be cheaper than renting a property privately as the mortgage cost and subsidised rent usually add up to less than the equivalent rental payments to a landlord.
Example:
. Property Purchase price £340,000
. You purchase a 40% share = £136,000 funded through a combination of your own deposit and mortgage
. You rent the remaining 60% share = £204,000 at a rent of £467.50 per month
. There is an option to purchase up to 100% of the property value at a later point sho...
Service Charge
A service charge of £53.07 per month is applicable on this property.
Key Facts
Please see key facts sheets available as a download.
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