Claverham Way, Battle

Here's how you can buy this new two bedroom detached bungalow near Hastings for under £100,000

Welcome to Tollgate Green, a new neighbourhood for historic Battle, East Sussex.

By Colin Jenner
Wednesday, 15th December 2021, 8:14 am
Updated Wednesday, 15th December 2021, 3:45 pm

Light filled, lifetime homes of two, three and four bedrooms surrounded by beautiful countryside and close to the High Weald Area of Outstanding Beauty. Space to grow, room to breathe; convenient and connected in every sense.

Each property comes with a range of integrated appliances, a private garden and off -street parking.

Countryside living and stunning views -That’s the quality of life at Tollgate Green. Sustainable and sustaining; a neighbourhood of warmth and solidity; a face-to-face community. Battle, the real site of the famous Battle of Hastings, celebrates its origins at Battle Abbey through museums and exhibitions, even battlefield re-enactments.

The town is the capital of 1066 Country that stretches to Hastings and Bexhill, both around 20 minutes’ drive from Tollgate Green but also accessible by train or bus.

Further afield, Battle station offers direct travel to Hastings, Tunbridge Wells and London Charing Cross, while connections to Brighton and Ashford for travel are available from Hastings station.

On the market for £92,500.

This property is available through Shared Ownership - the Full Market Value is £370,000, the min share value is £166,500 and the minimum share is 45%.

So what is shared ownership and how does it work? This is from the British government's website

If you can’t quite afford the mortgage on 100% of a home, Shared Ownership offers you the chance to buy a share of your home (between 10% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to.

We will be funding a new model for Shared Ownership through the Affordable Homes Programme 2021-26. Up to 50% of homes delivered through this programme will be for the new model of Shared Ownership.

We have reduced the initial stake from 25% to 10%

We have introduced a 10 year repair during which the shared owner will receive support from their landlord to pay for essential repairs - bridging the gap between renting and home ownership.

We have introduced a new 1% gradual staircasing model enabling shared owners to staircase in smaller instalments of as little as 1%, down from 10%, with heavily reduced fees.

We have given shared owners more control when they come to sell their home. Shared owners will be able to take control of the resales process from the landlord at an earlier point, giving them greater influence over the sale.

The new model should be available to purchase from 2022 (a limited number of homes will be available before that). We will continue to fund the present Shared Ownership scheme until 2023 through the Affordable Homes Programme 2016-23. There will, therefore, be a transition period in which both the former and new Shared Ownership models will be available.

As a result, it will be important to check which model you are applying for. Help to Buy agents (see “How to apply” below) will be able to advise you on what terms and conditions apply to the schemes available in your area and which models of Shared Ownership are being delivered.

You could buy a home through Shared Ownership in England if your household earns £80,000 a year (or less or £90,000 a year or less in London) and you are a first-time buyer, you used to own a home but can’t afford to buy one now or are an existing shared owner looking to move.

With Shared Ownership you can buy a newly built home or an existing one through resale programmes from housing associations. You’ll need to take out a mortgage to pay for your share of the home’s purchase price, or fund this through your savings. Shared Ownership properties are always leasehold.

Only military personnel will be given priority over other groups through government funded Shared Ownership schemes. However, councils with their own shared ownership home-building programmes may have some priority groups, based on local housing needs.

To buy a home through a Shared Ownership scheme contact the Help to Buy agent in the area you want to live.

Page 1 of 2