30 Hibbert Drive

Property Overview

Offering approximately 797 sq ft of accommodation across two floors, this well-proportioned home provides a practical layout ideal for first-time buyers, couples and smaller families.

The ground floor opens into a welcoming hallway, with a separate kitchen measuring approximately 9’7” x 8’1”. To the rear is a generous lounge/diner measuring approximately 15’5” x 11’0”, with double doors providing direct access outside. A convenient downstairs Wc completes the ground floor.

Upstairs are two well-proportioned double bedrooms. Bedroom one measures approximately 12’0” x 10’6”, while the particularly spacious second bedroom measures approximately 15’3” x 10’5”. Both are served by a modern family bathroom.

The property is leasehold with approximately 118 years remaining. Shared owners can staircase to 100%, at which point the property will become freehold.

Financial Breakdown:

• Full Market Value: £375,000
• 35% Share Value: £131,250
• Rent on Unowned Share: £677.13 per month
• Service Charge: £0.00 per month
• Estate Charge: £38.05 per month
• Buildings Insurance: £16.96 per month
• Management Fee: £46.19 per month
• Reserve Fund: £0.00 per month
• Total Monthly Payment (excluding rent): £101.20 per month
• Total Monthly Rent & Charges: £778.33 per month
• Lease Length: Approximately 118 years remaining

As this is a Shared Ownership resale, the percentage share purchased may vary depending on affordability. The Key Information Document provides the following examples:

• 35% £131,250 £677.13
• 40% £150,000 £624.38
• 50% £187,500 £520.31
• 60% £225,000 £416.25
• 70% £262,500 £312.19
• 75% £281,250 £260.16

The final percentage purchased will depend on affordability and will be confirmed following a financial assessment. Rent is calculated at 3.33% of the value of the share retained by the landlord.

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 a subsidised rent on the remaining share.

Over time, you may choose to buy additional shares in your home through a process known as staircasing, potentially increasing your ownership up to 100%. Deposits and mortgage payments are based on the share purchased, meaning costs are often lower than buying outright or renting privately.

L&G 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, your household income must be £80,000 or less and you must be unable to afford the deposit and mortgage payments required to purchase a suitable home outright.

You must also meet one of the qualifying circumstances, such as being a first-time buyer, a previous homeowner who can no longer afford to buy, an existing shared owner wishing to move, or someone forming a new household. If you currently own another home, its sale must complete on or before completion of your Shared Ownership purchase. Affordability and credit assessments will also apply.

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

Great Dunmow is a popular and historic Essex market town, offering a good range of everyday amenities including supermarkets, independent shops, cafés, restaurants, schools and leisure facilities.

The town combines a traditional High Street and established community with convenient access to the surrounding Essex countryside. Nearby towns include Bishop’s Stortford, Braintree and Chelmsford, providing a wider range of shopping, leisure and employment opportunities.

The area is also well positioned for commuters, with convenient road connections via the A120 towards the M11, providing onward access towards Cambridge and London. Stansted Airport and its railway station are also within easy reach.