Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.
Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.
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Ploughmans Reach, 1-3 bed homes
Two modern brand new one bedroom maisonettes available for Shared Ownership, part-buy part-rent near thehistorical village of Stebbing, Dunmow, Essex!! Over 65% sold!!
Final two 1 bedroom maisonettes for sale from a 25% share! Next viewing day Friday 20th March - call now to book your appointment!!
Two generous sized 1 bedroom maisonettes, set in their own block, with their own private garden and parking to call home and be part of this welcoming community. A fantastic opportunity for first-time buyers to be part of a neighbourhood steeped in history.
These spacious homes benefit from a high specification, private rear garden, and off-street parking. One maisonette is set on the ground floor with patio doors leading onto a paved terrace and turfed garden including a shed, and the other on the first/top floor offering views over the countryside, with its own turfed garden with separate private entrance and including a shed. Both homes have their own private entrance and benefit from an open plan kitchen/living area with a fitted contemporary white kitchen, with integrated appliances, a spcious bedroom and a white modern bathroom suite with an over-bath shower and glass shower screen. There is hard wearing vinyl flooring to wet areas and fitted nuetral carpets throughout.
These collection of 6 charming shared owership homes are close to Stebbing high street offering an assortment of mostly independent shops and businesses and the weekly Tuesday market in Great Dunmow has continued to attract crowds and regular visitors
Mainline railway stations can be found at Stansted Airport, Bishop’s Stortford and Chelmsford with routes taking you directly into London or further afield. The surrounding area benefits from open spaces and parklands with rivers running through, spending time outdoors and really becoming a pastime. There are many interesting and picturesque walks including the Flitch Way which forms part of the National Cycle Network and provides a safe environment to walk or cycle, whilst enjoying scenery and wildlife
With much to offer, local amenities, easy access to larger towns and cities, and well-connected transport links Stebbings could be your ideal location to set up home.
Pricing and Affordability
Ground floor 1 bedroom maisonette
Full market value £235,000
Minimum 25% share £58,750
Monthly rent £403.90
Monthly service charge
50% share £117,500 monthly rent £269.27; 60% share £141,000 monthly rent £215.42; 75% share £175,250 monthly rent £136.93
First/top floor 1 bedroom maisonette
Full market value £245,000
Minimum 25% share £61,250
Monthly rent £421.09
Monthly service charge £40
50% share £122,500 monthly rent £280.73; 60% share £147,000 monthly rent £225.58; 75% share £183,750 monthly rent £140.36
Complete Moves are selling these homes on behalf of Sage Housing* through Shared Ownership in Essex. With shared ownership, you can buy a share of a home using a mortgage from a bank or building society and pay a subsidised rent on the remaining share. The combined mortgage and rent is normally less than you’d expect to pay if you bought a similar property outright. At Ploughmans Reach, you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). You will need a minimum 5% deposit (of the share value), plus monies to pay for solicitor fees, moving costs & furnishings. When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
Sage Housing is a Registered Provider committed to providing high-quality affordable homes across England. For more information on Sage Housing visit www.sagehousing.co.uk
*terms & conditions apply
Local area information
The high street and market places offer an assortment of mostly independent shops and businesses and the weekly Tuesday market in Great Dunmow has continued to attract crowds and regular visitors
Mainline railway stations can be found at Stansted Airport, Bishop’s Stortford and Chelmsford with routes taking you directly into London or further afield.The surrounding area benefits from open spaces and park lands with rivers running through, spending time outdoors and really becoming a pastime. There are many interesting and picturesque walks including the Flitch Way which forms part of the National Cycle Network and provides a safe environment to walk or cycle, whilst enjoying scenery and wildlife
With much too offer, local amenities, easy access to larger towns and cities, and well connected transport links Stebbings could be your ideal location to set up home
Min share price from: £58,750 for a 25% share
Full price from: £235,000
Minimum deposit from: £2,938
Monthly rent from: £404
There are 2 available ranging from £58,750 for a 25% share to £61,250 for a 25% share.
It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.
An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.
Leasehold, which is essentially the contract for the share you've bought.
It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.
Your solicitor can help you with this.