£226,000 /Sale price

Shared OwnershipThis brand new home is available to buy from as little as £226,000 with a 40% share!The historic town of Bishop's Stortford is nestled on the banks of the River Stort in rural Hertfordshire. It's situated just west of the M11 motorway, on the county boundary with Essex, and just over 30 miles north of central London. It's also the closest large town to London Stansted Airport and has a direct train to London Liverpool Street, reaching the city in less than 40 minutes.Living at Stortford Fields means that you'll have everything you need close to home. The town's attractive high street is filled with 16th and 17th century buildings which sit alongside the newer Jackson Square Shopping Centre. Fresh from a £5.5 million facelift, Jackson Square is brimming with high street names and coffee shops. Your entertainment is covered too as there's a cinema, health club, bowling alley and the Rhodes Arts Complex - a large live music and contemporary arts venue and museum.This brand new semi detached home has accommodation set over three floors and offers fantastic flexibility. To the ground floor is an entrance hall, cloakroom and additional flexi room. To the first floor is a living room with a Juliet balcony, a kitchen/diner, a bedroom and a study. The second floor features three further bedrooms and a bathroom. Externally is an enclosed rear garden and parking via a carportPRICING & AFFORDABILITYApproximate size: 1,424 sq ftFull Market Value: £565,00040% Share Price: £226,000 (rent £776.88pcm)50% Share Price: £282,500 (rent £647.40pcm)75% Share Price: £423,750 (rent £323.70pcm)Minimum 5% Mortgage Deposit (50% share): £11,300Approximate Service Charges: £70 pcm* Shared Ownership Lease: 990 yearsCouncil Tax Band: TBCELIGIBILITYShared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you'd expect to pay if you bought a similar property outright although this is not a guarantee.At Stortford Fields, advertised shares start from 40% of your home (the maximum you can buy initially is 75%). When you're ready, you can buy more shares until you staircase to owning 100% of your home.To be eligible for shared ownership you would need to meet the following criteria: Your annual household income does not exceed £80,000. You have a deposit of at least 5% of the share value. You do not own another property or have your name on the deeds or a mortgage for a property worldwide. This will be your only residence. You are a permanent UK resident or have indefinite right to remain.Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.**The property is sold off-plan. Images, computer-generated visuals and virtually dressed images are for illustrative purposes only and may include finishes, fittings, layouts or appliances that are not included in the sale. No specification is fixed or agreed at exchange of contracts and the design and specification may change at any time up to build completion. All details are indicative and purchasers must rely on the contract terms agreed at exchange.