Sandown Drive, Elsea Park, Bourne, PE10

Rare Shared Ownership Opportunity! Beautifully presented two-bedroom end of terrace home in desirable Elsea Park, offering modern living in a peaceful community. Early viewing highly recommended!

Property Description

Offered for sale is this well-presented two-bedroom end of terrace house, located in a sought-after neighbourhood with convenient access to public transport links, reputable nearby schools, and a range of local amenities. The property is also ideally situated close to scenic cycling routes, making it an excellent choice for families and first-time buyers alike.

The house is in good condition throughout and benefits from a versatile, open-plan reception room, providing a bright and welcoming living space with direct access to the private garden—perfect for relaxation or outdoor entertaining. There is a well-sized kitchen, suited for modern family living, and further enhancing the functionality of the home.

Both bedrooms are generous doubles, ensuring ample space for comfortable living. The principal bedroom offers space for a variety of furnishings, while the second bedroom includes built-in wardrobes, providing convenient storage solutions.

DPA (Designated Protected Area)

This home is in a Designated Protected Area (DPA). The purpose of DPA is to protect the availability of affordable homes now and in the future, which is why you cannot own a freehold on this home.

This home will always remain leasehold. The freehold will not be transferred to you even if you reach 100% ownership of this home.

Lease Term

The term will be 990 years

Shared Ownership Rents

Below are examples of rent figures on differernt shares


Share Share Purchase Price Monthly rent

25% £47,500 £326.56
30% £57,000 £304.79
40% £76,000 £261.25
50% £95,000 £174.17
70% £133,000 £130.63
75% £142,500 £108.85

The percentage share and rent amount will change depending on the amount you can afford. You'll receive a worked example after a financial assessment.

Your annual rent is calculated as 2.75% of the remaining share of the full market value owned by the landlord

Monthly Charges

In addition to the rent above, the monthly payment to the landlord includes:

Service charge £0.00
Estate charge £0.00
Buildings insurance £9.66
Management fee £25.95
Reserve fund payment £0.00

Eligibility

You can apply to buy the home if both of the following apply:

• your household income is £80,000 or less
• you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs

One of the following must also be true:

• you're a first-time buyer
• you used to own a home but cannot afford to buy one now
• you're forming a new household - for example, after a relationship breakdown
• you're an existing shared owner, and you want to move
• you own a home and want to move but cannot afford to buy a new home for your needs

If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.

As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.

Belvoir Disclaimer

Every care has been taken with the preparation of these Particulars but complete accuracy cannot be guaranteed. If there is any point, which is of particular importance to you, please obtain professional confirmation. All measurements quoted are approximate. These Particulars do not constitute a contract or part of a contract