Monarch Rise

COMING SOON – Launching in Spring 2025 - Register your interest with us now

Monarch Rise is a new development launching in Spring 2025, located off The Folley in Layer de la Haye, Essex, CO2 0JA. This development offers shared ownership homes, providing an excellent opportunity for prospective buyers looking to get onto the property ladder within a picturesque village setting.

Layer de la Haye is a charming village situated in the Essex countryside, close to Abberton Reservoir. The village boasts amenities such as The Layer Fox, a 16th-century pub with a cozy interior, serving traditional pub food.

The development will feature a variety of Shared Ownership homes including a 2 bedroom bungalow along with 3 and 4 bedroom semi detached houses.

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

At Monarchs Rise, the advertised share starts at 45% of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for this Shared Ownership development you would need to meet the following criteria:

• You must have a local area connection to Colchester, this can be by the way of either living and/or working in the borough
• Your annual household income does not exceed £80,000 (outside of London) and £90,000 (inside of London)
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.