Shared Ownership

This brand new home is available to buy from as little as £188,000 with a 40% share!

Home to a variety of everyday amenities in a sought-after location, Great Dunmow provides a tranquil retreat with access to all of the essentials. The popular town is known for its independent retailers, with traditional homeware stores, stylish boutiques, salons and cosy coffee shops. Supermarkets are located close to home including Tesco and Co-op, whilst a wide range of pubs, restaurants and takeaways are also on the doorstep.

The larger towns of Bishops Stortford and Braintree are approximately 10 miles away whilst the City of Chelmsford is just 14 miles from Great Dunmow. For those travelling further afield, London Liverpool Street is just 45 minutes by train from Bishop’s Stortford, and the M11 is less than 10 miles via the A120. Stansted Airport is just five miles away from the development.

The exciting community will feature public open space with equipped play areas for welcome recreation. Adjacent to the A120, this growing community opens the door to a wealth of commuting opportunities with road links to Chelmsford, Colchester, London and Cambridge being easily accessible for those travelling for work or leisure. Living at Great Dunmow Grange, you can enjoy the finest aspects of town and countryside living. Peaceful evenings and weekends await, whilst the thrill of the hustle and bustle of a flourishing town is still only moments away.

This brand new semi detached home features a kitchen/diner at the back of the house, overlooking the garden with a separate lounge and a ground floor cloakroom. To the first floor are three bedrooms and a bathroom. Externally the property benefits from parking and a rear garden.

PRICING & AFFORDABILITY

Approximate Size 1,001 sq ft

Full Market Value: £470,000

40% Share Price: £188,000 (rent £646.25pcm)
50% Share Price: £235,000 (rent £538.54pcm)
75% Share Price: £352,500 (rent £269.27pcm)

Minimum 5% Mortgage Deposit (40% share): £9,400
Approximate Service Charges: £21.82 pcm*
Shared Ownership Lease: 990 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 Great Dunmow Grange you can buy an initial maximum 75% share of your home 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. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

**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.