4 bed semi-detached house for sale

Cornfields, Burwell CB25

This four-bedroom, semi-detached 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= B86

Term remaining on lease: 118 years

Property features:
Driveway parking
Fitted kitchen
Private garden with garden office
Central heating
Double glazing
Four double bedrooms
Ensuite & family bathrooms
Utility room with downstairs WC

Measurements:
Kitchen/dining: 6.49m x 3.18m

Living room: 4.26m x 4.40m

Bathroom: 2.20m x 2.03m

Bedroom 1: 4.29m x 3.10m

Bedroom 2: 3.29m x 3.18m

Bedroom 3: 3.20m x 2.06m

Garden: 23m x 6.5m

Purchase Requirements:
Be eligible for the shared ownership scheme
Be a first-time buyer or not currently named on a mortgage
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: £430,000
Minimum Share: 40%
Share Value: £172,000
Monthly Rent: £738.77
Service Charge pcm (including buildings insurance): £51.43
Total Monthly Charge: £790.20
Next rental increase: April 2027

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.