Summary - Brocket Way, Chigwell, Essex IG7 4LU
1 bed 1 bath Flat
Lifetime Lease option offers downsizers a lower-cost route to homeownership.
Allocated off-street parking space included
Open-plan living area maximises compact footprint
One double bedroom; 378 sq ft overall (small)
Suitable for over-60s via Homewise Lifetime Lease option
Guide Lifetime Lease price £172,000; market value £260,000
Lease approx. 83 years remaining; verify legal details
Service charge c. £2,027 per year; factor into costs
Area shows deprivation; local amenities and fast broadband available
This first-floor one-bedroom apartment on Brocket Way offers a compact, low-maintenance home well suited to over-60s seeking to downsize. The open-plan living area and separate bedroom make the most of its 378 sq ft, and an allocated off-street parking space is included. Modern gas boiler heating and double glazing (pre-2002) keep running costs reasonable.
A key attraction is the Home for Life Lifetime Lease option: those aged 60+ can typically buy a share of the property at a reduced price. The full market price is £260,000; the guide Lifetime Lease price shown here is £172,000 (indicative, based on an average saving of 33%). Actual cost depends on age, circumstances and chosen share (up to 50%).
Practical points to note: the apartment is small and best for single-occupancy or couples wanting minimal upkeep. The lease has about 83 years remaining and the service charge averages £2,027 per year; prospective buyers should verify lease terms and service charge cover. The area has fast broadband and accessible local amenities but sits within a relatively deprived ward, which may affect long-term investment appeal.
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