2 bed property for sale

Mortimer Way, Witham CM8

** 30% Shared Ownership Property With The Option To Obtain Full 100% Freehold Ownership Via The Housing Association **

Michaels Property Consultants are delighted to present this rare opportunity to acquire a two-bedroom shared ownership home, ideally positioned along a peaceful pedestrian walkway within the ever-popular Maltings Park Development.

New to the market and offered in good decorative order throughout, this traditionally built and deceptively spacious property represents an excellent purchase for first-time buyers seeking an affordable route onto the property ladder with a limited deposit.

The well-planned internal accommodation briefly comprises a welcoming entrance hall, a well-appointed lounge offering ample space for both living and dining furniture, a separate fitted kitchen, and a convenient ground floor cloakroom. To the first floor are two generously proportioned double bedrooms, served by a modern family bathroom.

Externally, the property further benefits from a private and enclosed rear garden, ideal for outdoor entertaining or relaxation, along with an allocated parking space nearby.

Occupying a quiet yet convenient location within this sought-after development, early viewing is highly recommended to appreciate the space, position, and value this home has to offer.

Further information provided by the shared ownership company (Flagship) -

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.

Also, yo8u must have a local connection to Braintree District Council either through residency, work, or family.

Rent Information -

The share purchase price is calculated using the full market value and the percentage share purchased.

If you buy the 30% share, the shared purchase price will be £84,000.00 and the rent will be £585.26 per month.

If you buy a larger share, you'll pay less rent. The table below shows further examples.

Share / Share Purchase Price / Monthly Rent

- 35% / £98,000 / £543.46

- 45% / £126,000 / £459.85

- 55% / £154,000 / £376.24

- 65% / £182,000 / £292.63

- 75% / £210,000 / £209.02

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 Payment To The Landlord -

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

Service charge £31.19

Estate charge £0.00

Buildings insurance £31.71

Management fee £0.00

Reserve fund payment £0.00

Total monthly payment excluding rent £62.90

Lounge

16' 1" x 12' 8" (4.90m x 3.86m)

Kitchen

9' 11" x 6' 3" (3.02m x 1.91m)

Bedroom One

12' 7" x 10' 10" (3.84m x 3.30m)

Bedroom Two

12' 7" x 8' 4" (3.84m x 2.54m)