2 bed end terrace house for sale

Church Lane, Bury St. Edmunds IP28

This two bedroom end of terrace house, is an ideal opportunity to get on to the property ladder with Hastoe. It is being sold under the shared ownership scheme whereby you purchase a share in the property and pay a reduced rent on the remaining Hastoe equity.

EPC= B82

Term remaining on lease: 115 years

Property features:
Two parking spaces
Private garden
Fitted kitchen
Downstairs WC
Gas central heating
Double glazing
Over-bath shower

Kitchen: 3.35m x 3.74m

Living room: 5m x 3.07m

Bathroom: 1.95m x 2.37m

Bedroom 1: 5m x 3.07m

Bedroom 2: 3.04m x 3.41m

Purchase Requirements:
Be a first time buyer or not currently own a property.
Demonstrate you meet the minimum income requirements.
Demonstrate a deposit sufficient to obtain a mortgage for the property.
Have a local connection to the area.

Costs:
Full Market Price: £230,000
Minimum Share: 30%
Share Value: £69,000
Monthly Rent: £354.62
Service Charge pcm (including buildings insurance): £51.66
Total Monthly Charge: £406.28
Next rental increase: April 2025

Apply online via the Hastoe sales website

What is shared ownership?
Shared ownership is a scheme designed to help those who wouldn’t otherwise be able to purchase a home of their own. This may be because you can’t meet the full mortgage repayments, save a sufficient deposit, or both. With shared ownership, you buy a percentage of your home and pay a reduced rent on the share you don’t own

This property has restricted staircasing to ensure the property remains affordable for future generations of local people.

How does shared ownership work?
You will buy a percentage share of a home, independently priced at market value. Hastoe will charge you rent on the share you don’t own plus a service charge. This service charge covers things like buildings insurance and estate maintenance.

About Hastoe:
Hastoe owns and manages over 7,500 homes in 70 local authority areas. Our properties are predominantly rural and we specialise in providing sustainable and affordable rural housing to enable local people to remain within their communities.