10 Hugh Way

Property Overview

Situated within a modern residential development in the market town of Watton, this attractive two bedroom mid-terrace home offers an excellent opportunity to step onto the property ladder through Shared Ownership.

Extending to approximately 798 sq ft (74 sq m), the property has been thoughtfully designed to provide comfortable and practical living throughout. The ground floor features a welcoming entrance hall, a spacious living room ideal for relaxing or entertaining, a contemporary kitchen and dining room with ample space for everyday family life, and a convenient downstairs WC.

Upstairs, the home offers two generous double bedrooms and a modern family bathroom, making it well suited to first-time buyers, couples or those looking to downsize. The home also benefits from 2 parking spaces.

This Shared Ownership opportunity offers a more affordable and flexible route to owning a modern home in a well-connected Norfolk market town.

Financial Breakdown

• Full Market Value: £190,000
• 40% Share Value: £76,000
• Rent (60% share): £331.37 per month
• Service Charge: £0.00 per month
• Estate Charge: £16.64 per month
• Buildings Insurance: £13.44 per month
• Management Fee: £40.91 per month
• Reserve Fund: £0.00 per month
• Total Monthly Payment (excluding mortgage): £402.36 per month
• Lease Length: Approximately 245 years remaining

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, you will need to:

• Have a combined household income under £80,000 per annum.
• Not already own a property, or part of a property, at the time of completing your purchase.
• Be unable to purchase a suitable home to meet your housing needs on the open market.

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

Located in the popular market town of Watton, the property benefits from a wide range of local amenities, including supermarkets, independent shops, cafés, restaurants, healthcare facilities and schools, all within easy reach. Surrounded by the beautiful Norfolk countryside, the area also offers plenty of opportunities for walking, cycling and outdoor recreation.

Watton enjoys excellent road connections via the A1075, providing convenient access to Thetford, Dereham and Norwich, while nearby rail services from Thetford offer direct connections to Norwich, Cambridge and London.