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Property Listing Details

Property details

  • 2 bedrooms

Listing view statistics

Last 30 days: 407 page views

Since listed: 2152 page views

Description

Brand new 2 bedroom shared ownership Detached Bungalow with prices from £104,000, a deposit of £5,200, which represents a 40% share of the full market value of £260,000.

The Colne (826 sqft) features a modern open-plan living/dining/kitchen area, two double bedrooms and family bathroom.

Externally there are landscaped gardens, two car driveway, patio area and garden shed. Additional features include, integrated Zanussi appliances in the kitchen, double glazing and air source heat pump central heating.

Dimensions*

Living/Kitchen/Dining - 6.35m x 5.65m | 20' 10" x 18' 6"

Bedroom 1 - 4.65m x 2.95m | 15' 3" x 9' 8"

Bedroom 2 - 2.55m x 4.60m | 8' 4" x 15' 1"

Bathroom - 2.55m x 2.20m | 8' 4" x 7' 2"

*All dimensions are approximate

Sitting in the open countryside in the county of Essex, the village of Frating is set in a wonderful location surrounded by fields and open spaces. Just a short walk away from the development is The Kings Arms, a traditional 16th century pub serving freshly cooked food and drinks to the people of Frating. A walk around the surrounding countryside followed by a drink here would make for a lovely evening in this charming village.

Frating also has convenient transport links to Colchester, where you can learn about the history of Britain's oldest recorded town, as well as visit family-favourite attractions such as Colchester Zoo and Colchester Castle.

What is Shared Ownership? Shared ownership could be your step on to the property ladder. This home ownership scheme allows you to purchase a share in your home and rent the remaining unowned share. Over time you can buy more shares in your home until you own the full 100%.

How does Shared Ownership Work? You buy an initial share of between 40% and 75% of the property's full value and pay a subsidised rent on the remaining share you don't own. You may purchase further shares up to 100% of the full property value, as your circumstances change, although there is no obligation
to do so. You will be asked to speak with a Financial Advisor to assess what share you can buy, ensuring this is both affordable and sustainable, based on your circumstances.
Shared ownership can be cheaper than renting a property privately as the mortgage cost and subsidised rent usually add up to less than the equivalent rental payments to a landlord.

Example:
Property Purchase price £260,000
. You purchase a 40% share = £104,000 funded through a combination of your own deposit (£5,200) and mortgage (£98,800)
. You rent the remaining 60% share = £156,000 x 2.5% rent = rent of £325 per month
. 75% is the maximum share price which you can initially purchase.
There is an option to purchase up to 100% of the property value at a later point should you wish to do so.
You enjoy all the benefits of living in a brand new home with an open market value of £260,000
. You can stay in the property for as long as you wish and can sell the share you own at any time. You make the decisions.
Please speak to one of our advisors to find out more about owning a share of this fabulous property.

You could get

Superfast broadband Superfast broadband

Up to 68.2 Mbps (Source: Ofcom)

Map & Nearby

Local Amenities

  • Great Bentley 1.8 miles
  • Alresford (Essex) 2 miles
  • Great Bentley Primary School 1.7 miles
  • St George's Church of England Primary School, Great Bromley 1.7 miles

Local map of the area

Map View Map showing location of property

Local Amenities

  • Great Bentley 1.8 miles
  • Alresford (Essex) 2 miles
  • Great Bentley Primary School 1.7 miles
  • St George's Church of England Primary School, Great Bromley 1.7 miles

Market stats

Sale activity

Average estimated value for a house in CO7:

  • £459,416
  • Price decrease

  • -£29,473
  • (-6.029%)
  • Over the last 12 months

In the last 12 months

  • Average sale price

    £417,835
  • Properties sold

    105

Rental opportunities

Looking for an investment? The average rent for a 2 bedroom house in CO7 is currently:

£841 pcm

Recent sales nearby

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Estimated running costs

Based on available 3rd party data

Mortgage calculator

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How much could I borrow?

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Your home or property may be repossessed if you do not keep up repayments on your mortgage.

These results are not provided by NatWest and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances.

The Agent

Price history

Sold prices provided by Land Registry
20th May 2020 £104,000 First listed

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Property descriptions and related information displayed on this page are marketing materials provided by Abbotts - Colchester. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Abbotts - Colchester for full details and further information.