Yew Tree Park, Beverley
- PROPERTY TYPE
Detached
- BEDROOMS
3
- BATHROOMS
2
- SIZE
Ask agent
Key features
- Shared Ownership - Carpets & Blinds Included On Selected Plots
- Option To Purchase 10%-75% With Reduced Rent On Remaining Share
- Full Value £300,000 - Purchase Options From £30,000 to £225,000
- New Build 3 Bedroom Detached
- High Energy Efficiency
- Private Driveway, Garage & Good Size Rear Garden
Description
What is Shared Ownership?
Shared Ownership allows you to buy a share in your new home. This will range from 10%-75% depending on what you can afford. You will then pay a reduced rent on the remaining share. The advantage to you the buyer is that you only need to get a smaller mortgage to buy the property, and you will also need a smaller deposit (your deposit is a percentage of the share that you are buying and not based on the full value of the property). You can buy more shares as and when you can afford them - this is called 'staircasing'. As you buy more shares you will pay less rent. In most cases you can eventually own 100% of the property and at that point you will pay no rent at all. As a homeowner you will be responsible for the maintenance and repairs on your home
Financial Example
Property value - £300,000
10% share purchase price - £30,000 (Mortgage & Deposit)
Monthly rent on the remaining share - £618.75
25% share purchase price - £75,000 (Mortgage & Deposit)
Monthly rent on the remaining share - £515.62
30% share purchase price - £90,000 (Mortgage & Deposit)
Monthly rent on the remaining share - £481.25
40% share purchase price - £120,000 (Mortgage & Deposit)
Monthly rent on the remaining share - £412.50
50% share purchase price - £150,000 (Mortgage & Deposit)
Monthly rent on the remaining share - £343.75
60% share purchase price - £180,000 (Mortgage & Deposit)
Monthly rent on the remaining share - £275.00
70% share purchase price - £210,000 (Mortgage & Deposit)
Monthly rent on the remaining share - £206.25
75% share purchase price - £225,000 (Mortgage & Deposit)
Monthly rent on the remaining share - £171.87
In addition to the...
Why Shared Ownership?
1. An affordable way to get on the housing ladder
2. Provides security of home ownership
3. Benefit from any increase in property prices
4. Flexibility to sell and move at any time
5. Ability to increase the level of ownership, subject to terms and conditions
Eligibility
If your household income is below £80,000 per annum, you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs and you can afford to sustain mortgage and rent payments in the long term then Shared Ownership could be your route onto the property ladder.
One of the following must also be true:
- you're a first time buyer
- you used to own your own home but cannot afford to buy one now
- you're forming a new household (e.g. after a relationship breakdown)
- you're an existing shared owner and you want to move on
- you own a home and want to move but you cannot afford to buy a new home that meets your needs (if you own a home, you must have completed on the sale of the home on or before the date you complete your shared ownership purchase).
Lease Details
Tenure - Leasehold
Lease Type - Shared Ownership House Lease
Lease Term - 990 years
Maximum share you can own - 100%
Transfer of freehold - At 100% ownership, the freehold will transfer to you
Initial Repair Period
Up to £500 a year for the first 10 years to help with essential repairs
Further Details
For further details or to register your interest please contact our sales team on
Agents Notes
Please note:
In most cases we use wide angle lens photography to ensure we capture as much of the room and its features. This can distort the image slightly and should be considered alongside the other details within the particulars. Oscars give notice that these particulars whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Purchasers and potential purchasers should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise to assess their accuracy. No person in the employment of Oscars has the authority to make or give any representation or warranty in relation to the property
Free Valuation:
If you are considering selling your property, we would be delighted to provide a free valuation and marketing advice. Please contact the office on to arrange an appointment.
Fixtures & Fittings
Fixtures and Fittings:
Fixtures and fittings within the property may be available by separate negotiation unless otherwise stated. Any items of particular importance to you can be verified with our team.
Brochures
Full Details- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Band: TBC
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Yes
- GARDENA property has access to an outdoor space, which could be private or shared.
- Yes
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Energy performance certificate - ask agent
Yew Tree Park, Beverley
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Visit our security centre to find out moreDisclaimer - Property reference 12620033. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Oscars, Hull. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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