100 Fairway Drive

Property Overview

Offering approximately 829sqft of well-planned accommodation across two floors, this attractive two-bedroom end of terrace home provides generous living space and a practical layout suited to modern living.

The ground floor opens into a welcoming entrance hall, leading to a separate fitted kitchen at the front of the property. A convenient downstairs WC sits off the hallway.

To the rear is a spacious lounge/diner, measuring approximately 14’11” x 13’5”, providing plenty of room for both relaxing and dining. French doors open directly outside, allowing natural light into the room and creating a connection between the indoor and outdoor living spaces.

Upstairs, the property offers two particularly generous double bedrooms. The principal bedroom measures approximately 14’9” x 10’5”, while the second bedroom measures approximately 14’11” x 9’7”. A family bathroom completes the first-floor accommodation.

With two double bedrooms, approximately 829 sq ft of accommodation and a spacious lounge/diner, this established home offers an excellent opportunity to purchase through Shared Ownership.

Financial Breakdown:

• Full Market Value: £395,000
• 25% Share Value: £98,750
• Rent on Unowned Share: £671.91 per month
• Service Charge: £0.00 per month
• Estate Charge: £43.15 per month
• Buildings Insurance: £20.14 per month
• Management Fee: £46.19 per month
• Reserve Fund: £0.00 per month
• Total Monthly Payment (excluding rent): £109.48 per month
• Total Monthly Rent & Charges: £781.39 per month
• Lease Length: Approximately 113 years remaining

The Key Information Document confirms that the share purchased may vary depending on affordability, with the final percentage share and rent confirmed following a financial assessment.

What is Shared Ownership?

Shared Ownership offers a more accessible route to homeownership by allowing you to purchase a share of a property’s value, while paying rent on the remaining share.

Over time, you may choose to buy additional shares in your home through a process known as staircasing. For this property, you can increase your ownership up to 100%, at which point the freehold will transfer to you.

Deposits and mortgage payments are based on the share purchased, meaning costs can often be lower than purchasing a comparable property outright.

Legal & General Affordable Homes is a Registered Provider delivering Shared Ownership homes and committed to creating well designed communities and supporting buyers throughout their home buying journey.

Eligibility Criteria:

To be eligible for Shared Ownership, you will need to:

• Have a combined household income of £80,000 or less.
• Be unable to afford the deposit and mortgage payments required to purchase a suitable home outright.
• You must also meet the applicable Shared Ownership eligibility criteria. If you currently own a property, its sale must complete on or before completion of your Shared Ownership purchase. All applicants will be subject to financial and credit assessments to ensure the home is affordable and sustainable.

Shared Ownership Disclaimer

Shared Ownership is subject to eligibility, affordability checks and the terms of the lease. Rent is payable on the share not owned, along with any applicable service charges and other outgoings. Staircasing is subject to a valuation at the time of purchase and additional legal and valuation costs may apply. Priority may be given to applicants with a local connection. All information provided is for guidance only and does not form part of any contract.

Local Area

Fairway Drive is situated in Chelmsford, offering access to a wide range of shops, supermarkets, schools, cafés, restaurants and leisure facilities.

Chelmsford city centre provides an extensive range of shopping and entertainment options, while the surrounding area offers parks, green spaces and countryside for walking and recreation.

For commuters, Chelmsford railway station provides direct services into London Liverpool Street, while good road connections provide convenient access to the A12 and surrounding areas of Essex.

The property is particularly well placed for commuters. Chelmsford Railway Station offers frequent direct services to London Liverpool Street, with journey times from approximately 30-40 minutes and trains operating several times per hour.

For motorists, the property provides straightforward access to the A12, offering convenient routes towards London, the M25 and East Anglia. London Stansted Airport is also within easy driving distance, making the location attractive for both business and leisure travel.