2 bed end terrace house for sale

Lower Wells Close, Bungay NR35

This two bedroom end of terrace bedroom 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= C73

Term remaining on lease: 112 years

Property features:
Two allocated parking spaces
Private garden
Fitted kitchen
Air Source Heat Pump
Double glazing
Over-bath shower
Downstairs WC

Kitchen: 5.25m x 3.51m

Living room: 2.87m x 3.80m

Bathroom: 2.11m x 1.89m

Bedroom 1: 5.25m x 3m

Bedroom 2: 4.2m x 2.71m

Garden: 5.1m x 9m

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: £205,000
Minimum Share: 40%
Share Value: £82,000
Monthly Rent: £282.56
Service Charge pcm (including buildings insurance): £64.54
Total Monthly Charge: £347.10
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.