House For Sale £95,000
Register your interest to complete a pre-financial assessment and book your 1-1 viewing appointment.
Shared Ownership prices at Abbey Corner starting from
2-bed homes from £95,000 (25% share of £380,000)
3-bed homes from £117,500 (25% share of £470,000)
Featuring contemporary kitchens, modern fittings and fixtures, spacious carpeted bedrooms and private outdoor spaces, the development also benefits from communal green area with a childrens playground. All homes benefit from at least one parking space. Abbey Corner is also well positioned for access to Colchester Railway station and Colchester Town Railway station. Both these stations provide links to the surrounding towns and cities. Colchesters train network provides direct access to, amongst other locations, Chelmsford, Ipswich, Clacton-on-Sea and London Liverpool Street.
Located in a residential area, whilst being close to the historic town centre, Abbey Corner sits just 1 mile from Abbey Field which connects you to the natural beauty that Colchester has to offer.
All properties for sale at Abbey Corner are available through Shared Ownership a part buy/part rent scheme, designed as a stepping stone for first time buyers looking to get onto the property ladder.
Financial Breakdown
2 bed Financial Breakdown
25% share
Full market value – £380,000
Example 25% share price = £95,000
Rent = £610 per month (charged at 2.75% of unsold equity)
Estimated service charge = £83
75% share
Full market value – £380,000
Example 75% share price = £285,000
Rent = £217.71 per month (charged at 2.75% of unsold equity)
Estimated service charge = £83
What is Shared Ownership?
Available to purchase through Shared Ownership, purchasers are able to buy as much of the property as they can afford, from 25 - 75%, paying a low cost rent on the remaining unpurchased 'share' of the home. What's more, your mortgage deposit is based on the value of the share you buy, not the full market value, making these high-spec homes even more affordable in such a sought after location.
Guidance Affordability
In order to purchase a home at Abbey Corner, you will need to complete an affordability assessment to ensure the homes are affordable for you. As a guide, applicants should:
Have a household income of between £43,798 and £80,000
Have a deposit available of atleast £11,400
Financial information
Tenure: Leasehold
Length of lease: 999
Annual ground rent amount: £0
Ground rent review period: N/A
Annual service charge amount: £996.00
Service charge review period: Annual
Council tax band: TBC
Want to find out more?
For more information about Abbey Corner be sure to register your interest where you will have the opportunity to book a 1-1 viewing appointment
N.B. All images are Computer Generated and indicative only.
