3 bedroom house for sale

SHARED OWNERSHIP PURCHASE FROM 10% TO 75%

A fantastic opportunity to acquire a new build property situated on the development of Holderness Chase, Preston by Beal Homes.

This property is offered for sale on a shared ownership basis through East Riding of Yorkshire Council.

Accommodation briefly comprising entrance hall, living room, cloakroom and dining kitchen to the ground floor. To the first floor there are three bedrooms and a family bathroom.

Externally there is a paved driveway to the front of the property providing ample parking and the rear garden is laid mainly to lawn.

East Riding of Yorkshire Council Tax Band - TBC
Energy Performance Certificate - B
Tenure - Leasehold

The Accommodation Comprisies -

Ground Floor -

Entrance Hall - Front entrance door leads into entrance hall.

Cloakroom - Suite comprising of low level Wc, pedestal hand basin with tiled splashback. Extractor fan and recessed spotlights to the veiling.

Living Room - 5.76m x 3.50m (18'10" x 11'5") - Good sized room with stairs off to the first floor, storage cupboard and Tv point.

Dining Kitchen - 5.00m x 2.47m (16'4" x 8'1") - Shaker style suite comprising of wall and floor units with complimentary work surfaces incorporating one and a half bowl stainless steel sink unit, integrated electric oven, four ring gas hob and chimney extractor over. Cupboard housing gas central heating boiler, vinyl flooring and french doors give access to the rear garden and patio area.

First Floor -

Landing - Hatch to loft space and storage cupboard.

Bedroom One - 4.67m max x 2.63m max (15'3" max x 8'7" max) - Double Room.

Bedroom Two - 3.55m x 2.92m (11'7" x 9'6") - Good sized double room.

Bedroom Three - 2.28m x 2.77m (7'5" x 9'1") - To the front of the property.

Family Bathroom - 2.47m 1.97m (8'1" 6'5") - Modern white suite comprising of low level Wc, pedestal hand basin and panelled bath with shower over. Modern ladder style radiator, recessed spotlights to the ceiling, part tiling to the walls and vinyl flooring.

Outside - To the front of the property is a block paved driveway providing parking for two vehicles. Side access gate into rear garden which is laid mainly to lawn with a low fence to the rear boundary. this area is protected and not to be cut back or additional planting with permission.

Additional Information -

Services - Mains water, drainage, gas and electricity are connected to the property.

Appliances - No appliances have been tested by the agent.

Shared Purchase Price And Rent Examples - The share purchase price is calculated using the full market value and the percentage share purchased.

If you buy a 25% share, the share purchase price will be £54,500 and the rent will be £374.68 a month.

If you buy a larger share, you'll pay less rent. The table below shows further examples.

Share Share Purchase Price Monthly rent
10% £21,800£449.62
25% £54,500£374.68
30% £65,400£349.71
40% £87,200£299.75
50% £109,000 £249.79
60% £130,800£199.83
70% £152,600£149.88
75% £163,500£124.90



The percentage share and rent amount will change depending on the amount you can afford. You'll receive a worked example after a financial assessment.

Your annual rent is calculated as 2.75% of the remaining share of the full market value owned by the landlord.

Monthly Payment To The Landord - In addition to the rent above, the monthly payment to the landlord includes:

Service charge£0
Estate charge£0
Buildings insurance£9.47
Management fee£0.94
Reserve fund payment£0

Total monthly payment excluding rent£10.41

Reservation Fee - £200

You’ll need to pay a reservation fee to secure your home. When you pay the fee, no one else will be able to reserve the home.

The reservation fee secures the home. If you buy the home, the fee will be taken off the final amount you pay on completion. If you do not buy the home, the fee is not refundable.

Eligibility - You can apply to buy the home if both of the following apply:

•your household income is £80,000 or less
•you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs

One of the following must also be true:

•you're a first-time buyer
•you used to own a home but cannot afford to buy one now
•you're forming a new household - for example, after a relationship breakdown
•you're an existing shared owner, and you want to move
•you own a home and want to move but cannot afford to buy a new home for your needs

If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.

As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.

Tenure - Leasehold.

Lease Type - Shared ownership house lease

Lease Term - 990 years

For more information, see section 2.5, ‘Lease extensions’, in the ‘Key information about shared ownership’ document.

Transfer Of Freehold - At 100% ownership, the freehold will transfer to you.

Landlord - East Riding of Yorkshire Council
County Hall
Cross Street
Beverley
East Riding of Yorkshire
HU17 9BA

Under a shared ownership lease, you pay for a percentage share of the market value of a home. You enter into a lease agreement with the landlord and agree to pay rent to the landlord on the remaining share.

Pets - You can keep pets at the home.

Subletting - You can rent out a room in the home, but you must live there at the same time.

You cannot sublet (rent out) your entire home unless you either:

•own a 100% share; or
•have your landlord's permission which they will only give in exceptional circumstances (see section 1.5 in ‘Key information about shared ownership’ document)

and

•have your mortgage lender’s permission if you have a mortgage