Malyon Close, Braintree, Essex CM7 2QZ

£56,000 Shared Ownership

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  • Guideline Minimum Deposit £5,600
  • Guideline Income £16.7k, dual £14.7k
  • First Floor
  • Approx. 465 Sqft Gross Internal Area
  • Double Glazing
  • Gas Central Heating
  • Parking Space
  • Walking Distance to Town Centre

General Description

A Fantastic Opportunity to Purchase a One Bedroom Flat, on a Shared Ownership (Part Buy/Part Rent) Basis, through Clarion Housing

 

SHARED OWNERSHIP (Advertised price represents 35% share. Full market value £160,000). This one-bedroom flat is on the first floor and features a good-sized reception room which also provides access to the kitchen. Both reception and bedroom have attractive flooring and there is a simple, monochrome bathroom. The entrance hallway includes useful storage, the windows are double glazed units throughout and there is gas central heating. Malyon Close is within comfortable walking distance of Braintree town centre. The flat comes with a parking space.

 

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [HERE; http://bit.ly/2wlp8rr]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

 

Tenure: Leasehold (99 years from 2006)
Minimum Share Available: 35% (£56,000). The housing association will expect you to purchase the largest affordable share which may be more than the advertised minimum.
Shared Ownership Rent: £217.94 per month (based on 35% ownership). The rent is subject to annual review.
Service Charge: £64.42 per month. The service charge is subject to annual review.
Guideline Minimum Household Income: £14,650 assuming dual incomes and a 10% deposit of a 35% share. Equivalent single-income figure would be £16,650.
Council Tax: Band B, Braintree (£1334.34 for 2019-20). Priority will be given to applicants that currently live and/or work in the District of Braintree.

The property is offered for sale on a sold-as-seen basis. Clarion Housing do not offer any warranties on the domestic appliances in the property or undertake to carry out any remedial work or redecoration work of a cosmetic nature. Pets not permitted (except assistance animals).

Dimensions

Reception ( Reception Room )
13' 9" min. x 11' 4" (4.19m x 3.45m)
Kitchen
8' 3" x 7' (2.51m x 2.13m)
Bedroom
10' 11" max. x 10' 8" max. (3.33m x 3.25m)
Bathroom
Energy Effeciency Rating

Floorplans


Shared Ownership

WHAT IS SHARED OWNERSHIP ?
Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and the Homes and Communities Agency (HCA) outside of London.

IS SHARED OWNERSHIP FOR YOU ?
The GLA and HCA set the eligibility criteria for Shared Ownership, but broadly speaking you must:
 Not own another property in the UK or any other country.
 Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
 Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
 Be in full time permanent employment.
 Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
 Have a good credit history.
If you are still unsure about Shared Ownership or would like more information view [ Facts and Frequently Asked Questions]

Location

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