Gaskin Croft, Welton

SHARED OWNERSHIP PURCHASE OF £54,250

A fantastic opportunity to acquire a property situated on the development of Turpins Chase, Welton.

This property is offered for sale on a 25% share 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 two bedrooms and a family bathroom.

Externally there is a paved driveway to the front of the property providing two parking spaces and a rear garden that is laid to lawn.

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

The Accommodation Comprises -

Entrance Hall - Front door leading in with stairs off to the first floor.

Living Room - 3.50m x 4.69m (11'5" x 15'4") - Light and airy room with TV and telephone point.

Dining Kitchen - 4.60m x 2.58m (15'1" x 8'5") - Having a good range of light coloured wall and floor units with complimentary work surfaces and splashbacks. Incorporating a one and a half bowl sink unit with mixer tap over, integrated oven, four ring gas hob with stainless steel splash back and chimney extractor over. Space for washing machine and fridge freezer. Spotlights to the ceiling and vinyl flooring. Dining area with patio doors off into the rear garden.

Cloakroom - 1.61m x 1.00m (5'3" x 3'3") - Suite comprising of low level WC, wall mounted sink unit with tile splashback. Extractor fan, vinyl flooring and spotlight.

First Floor -

Landing - Hatch to loft space.

Bedroom One - 4.60m x 2.65m (15'1" x 8'8") - Good sized room to the front of the property with over stairs storage cupboard.

Bedroom Two - 4.60m x 2.69m (15'1" x 8'9") - Good sized room to the rear of the property.

Bathroom - 2.44m x 1.56m (8'0" x 5'1") - Modern suite comprising of low level WC, pedestal hand basin and panelled bath with shower over. Part tiling to the walls, vinyl flooring, extractor fan and spotlights to the ceiling.

Outside - To the front of the property is a block paved driveway providing parking for two vehicles. A side pathway leads to access gate into the rear garden which is laid mainly to lawn with a paved patio adjacent to the property and an abundance of decorative planting.

Services And Appliances - Mains water, drainage, electricity and gas are connected to the property. No Appliances have been tested by the Agent.

Share Purchase Price - 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 £54,250 and the rent will be £368.58 a month.

Monthly Payment To Landlord - Every month (in addition to your rent) you will pay:
Estate charge £0
Buildings insurance £8.36
Management fee £0.84
Reserve/sinking fund payment £0
Other service charges £0
Total monthly payment excluding rent £9.20
Total monthly payments will typically be reviewed on an annual basis.
For more information, see section 4, ‘Service Charges’, in the 'Key information about shared ownership' document.

Tenure - Leasehold.

Lease Type - Shared Ownership House Lease Model 2016-21

Lease Term - Lease term 990 years from lease start date of 23/2/2024. For more information, see section 2.5, ‘Lease extensions’, in the ‘Key information about shared ownership’ document.

Rent Review - Rent review. Your rent will be reviewed each year by a set formula using the Retail Price Index (RPI) for the previous 12 months plus 0.5%.

Maximum Share You Can Own - You can buy up to 100% of your home.

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

Landlord - East Riding of Yorkshire Council
County Hall
Cross Street
Beverley
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.

Landlords Nomination Period - When you give the landlord notice that you intend to sell your share in your home, the landlord has 4 weeks to find a buyer. The landlord may offer to buy back your share, but only in exceptional circumstances and if they have funds available. If they do not find a buyer within 4 weeks, you can sell your share yourself on the open market. For example, through an estate agent.

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 1.6 in ‘Key information about shared ownership’ document)and •have your mortgage lender’s permission if you have a mortgage

Affordability Assessment - You will be assessed to check you can afford the home.
Your affordability assessment will be carried out by a suitably qualified and experienced adviser.
As part of the affordability assessment, you will need to provide documents to confirm your income, savings, and financial commitments.
The assessment will take into account the housing provider’s specific policies including:
•
How much money you will need to have available to be able to afford the home (The shared Ownership Policy is currently under review, the Minimum Surplus Income Policy is available on request)
•
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