Northampton Meadow, Great Bardfield, CM7

SHARED OWNERSHIP (Advertised price represents 50% share. Theoretical full market value £320,000 but see 'Please Note' below). This modern, double-fronted property has a central entrance hall which provides access to the stairs, to a dual-aspect reception room with bay window and to the kitchen/dining room. From here, a glazed door leads out to a west/south-west-facing garden with tiled seating area. On the first floor of the house is a stylish bathroom and two similar-sized bedrooms, one of which is currently sub-divided. The property was built to modern insulation standards and the windows are double glazed units throughout. There is an allocated parking space plus shared use of the visitor spaces. Great Bardfield is an attractive village approximately ten miles from Braintree and around twenty miles from the centre of Chelmsford. The local primary school is Ofsted-rated 'Good'.
Please Note: Staircasing is restricted to a maximum of 80% for this property.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Clarion.
Tenure: Leasehold (currently 99 years from 05/02/1997, 50 year extension in progress).
Minimum Share: 50% (£160,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £386.22 per month (subject to annual review).
Service Charge: £31.32 per month (subject to annual review).
Guideline Minimum Income: Dual - £39,100 | Single - £45,400 (based on minimum share and 15% deposit).
Council Tax: Band B, Braintree District Council. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone.

WHAT IS SHARED OWNERSHIP ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and Homes England outside of London.

IS SHARED OWNERSHIP FOR YOU ?

The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.

Entrance Hall

Lounge

14' 1" into bay x 9' 5" max. (4.29m x 2.87m)

Kitchen / Dining Room

12' 6" max. x 10' 6" max. (3.81m x 3.20m)

Landing

Bedroom 1

12' 6" x 8' 9" (3.81m x 2.67m)

Bathroom

6' 10" x 5' 5" (2.08m x 1.65m)

Bedroom 2

currently divided 9' 8" x 6' 8" (2.94m x 2.04m) plus 8' 7" x 5' 7" (2.62m x 1.69m)