2 bed terraced house for sale

College Close, Saffron Walden CB11

This two-bedroom, mid-terrace house is an ideal opportunity to get on to the property ladder with Hastoe. It is being sold under the shared ownership scheme whereby you purchase a share in the property and pay a reduced rent on the remaining Hastoe equity.

EPC= B82

Term remaining on lease: 110 years

Property features:
Allocated parking space
Fitted kitchen
Central heating + solar panels
Private garden + shed
Double glazing
Over-bath shower
Downstairs WC

Measurements:
Kitchen/dining: 3.2m x 3.3m
Living room: 4.7m x 3.5m
Bathroom: 2.0m x 2.2m
Bedroom 1: 3.4m x 4.7m
Bedroom 2: 4.6m x 2.5m
Garden: 4.6m x 9.0m

Purchase Requirements:
Be eligible for the shared ownership scheme
Be a first-time buyer or not currently named on a mortgage
Demonstrate you meet the minimum income requirements
Demonstrate a deposit sufficient to obtain a mortgage for the property

Costs:
Full Market Price: £310,000
Minimum Share: 50%
Share Value: £155,000
Monthly Rent: £383.36
Service Charge pcm (including buildings insurance): £47.50
Total Monthly Charge: £430.86
Next rental increase: April 2027

What is shared ownership?
Shared ownership is a scheme designed to help those who wouldn’t otherwise be able to purchase a home of their own. This may be because you can’t meet the full mortgage repayments, save a sufficient deposit, or both. With shared ownership, you buy a percentage of your home and pay a reduced rent on the share you don’t own.

How does shared ownership work?
You will buy a percentage share of a home, independently priced at market value. Hastoe will charge you rent on the share you don’t own plus a service charge. This service charge covers things like buildings insurance and estate maintenance.

If you eventually own your home outright, you’ll no longer pay rent but may continue to pay a service charge and sinking fund.

About Hastoe:
Hastoe owns and manages over 7,500 homes in 70 local authority areas. Our properties are predominantly rural and we specialise in providing sustainable and affordable rural housing to enable local people to remain within their communities.