Terraced house for sale in Mortimer Way, Witham CM8

Shared Ownership Home. An opportunity to purchase this 2 bedroom mid-terrace shared ownership home with the option to staircase to full home ownership, subject to qualifying criteria.

Some More Information

Set upon a side walkway in the popular Maltings Lane development this 2-bedroom mid-terrace home is offered to the market on a shared ownership scheme with the option to staircase ownership to 100% and obtain full freehold ownership via the housing association.

From the entrance door you lead into the entrance hall where a further door gives access to the open plan lounge dining room and stair rise to the first floor. A further door to the rear leads into the rear lobby where a storage cupboard can be found along with the ground floor W.C. Comprising corner wash hand basin and low-level W.C. With window to the rear elevation. The rear garden is accessed through a half glazed uPVC entrance door and an archway leads into the kitchen. The kitchen is fitted with a range of eye and base level cupboards and drawers beneath rolled edge worksurface with inset gas hob, single oven beneath and extractor above, there is also space for washing machine, dishwasher and fridge freezer.

To the first floor there are two bedroom, bedroom 1 is located to the front of the property and has the benefit of fitted wardrobes with mirror sliding doors whilst bedroom two is located to the rear and is also a double sized bedroom. Completing the first floor accommodation is the family bathroom which comprises panel enclosed bath with shower over, low level W.C. And wash hand basin.

Externally

The rear garden commences with a decking area to the immediate rear of the property a patio slab path leads to the rear entrance gate where a single parking space is located. The balance of the garden is grass and enclosed by timber panel fences whilst to the immediate rear is a timber constructed storage shed.

Location

Witham is situated along with A12 trunk road, between the Cities of Chelmsford and Colchester and offers a wide variety of shops and services for daily living including 5 supermarkets, cafés and restaurants along with Dentists, Doctors and Pharmacies.

The town further benefits from two secondary schools rated Good and Outstanding in the latest Ofsted reports and a number of Primary schools. The property is also located just 0.6miles to Witham Mainline Railway Station, which offers a fast and frequent service to London Liverpool Street Station in 40 – 45minutes.

Hall/Porch (1.07m x 1.04m (3'6" x 3'5"))

Lounge (4.90m x 3.86m (16'1" x 12'8"))

Inner Hallway (2.54m x 0.94m (8'4" x 3'1"))

Kitchen (3.02m x 1.91m (9'11" x 6'3"))

W.C (1.68m x 0.86m (5'6" x 2'10"))

Bedroom One (3.84m x 3.30m (12'7" x 10'10"))

Bedroom Two (3.84m x 2.54m (12'7" x 8'4"))

Bathroom (1.93m x 1.70m (6'4" x 5'7"))

Services

In order to purchase this property under there are a number of specific criteria required in order to be acceptable to the housing association, these include having a connection to the Braintree District area which includes currently residing in the area, working or having a family connection.

Income Criteria – Your household income is £80,000 or less.

You cannot afford all of the deposit and mortgage payments to buy a home that meets your needs.

One of the following must also be true:
•you're a first-time buyer.
•you used to own a home but cannot afford to buy one now.
•you're forming a new household - for example, after a relationship breakdown.
•you're an existing shared owner, and you want to move.
•you own a home and want to move but cannot afford to buy a new home for your needs. \

If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.

As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.

Also, you must have a local connection to Braintree District Council either through residency, work, or family.

Rent information
The share purchase price is calculated using the full market value and the percentage share purchased.

If you buy a 30% share, the share purchase price will be £84,000.00 and the rent will be £585.26 a month.

If you buy a larger share, you'll pay less rent. The table below shows further examples.

Share Share Purchase Price Monthly Rent

40% £168,000.00 £501.65
50% £140,000.00 £418.04
60% £112,000.00 £334.43
70% £84,000.00 £250.85
75% £70,000.00 £209.02

The percentage share and rent amount will change depending on the amount you can afford. You'll receive a worked example after a financial assessment.
Your annual rent is calculated as 2.75% of the remaining share of the full market value owned by the landlord.

Monthly payment to the landlord

In addition to the rent above, the monthly payment to the landlord includes:
Service charge £31.19
Estate charge £0.00
Buildings insurance £31.71
Management fee £0.00
Reserve fund payment £0.00
Total monthly payment excluding rent £62.90

Services
Council Tax Band - C

Local Authority - Braintree District Council

Tenure – Share of Freehold whilst under shared ownership scheme.
Current remaining Lease – 83 years.

EPC - C

Mains Electric and Gas
Mains Water and Drainage

Internet – Ultrafast available from Openreach network along with Gigaclear.

Mobile coverage is available from EE, Three, O2 & Vodaphone networks (Details obtained from Ofcom March 2024).

Construction Type - We understand the main property to be of a traditional constructions type of Brick and Block beneath a tiled roof.

The property benefits from step free access to the front.

Flood risk in the property location is considered a very low risk from rivers, sea and ground water along with an unlikely risk of flooding from Groundwater and Reservoirs the property is in a very low risk area for surface water flooding.
(Details obtained from flood risk area March 2024).

Planning in the area – We are not aware of any planning applications in the immediate locality. (Details obtained from Braintree District Council Planning Portal March 2024.