6 Great Cranford Street, Poundbury, Dorchester

Apartment 6 Great Cranford Street offers an exciting opportunity to purchase a shared ownership property. This light and spacious two-bedroom second-floor apartment is favourably situated near to Queen Mother Square within the sought after development of Poundbury. The apartment offers accommodation that is modern and well-presented throughout comprising generous open plan living accommodation with well-appointed modern kitchen and a tastefully fitted bathroom. There is a right to use a parking space in the communal courtyard to the rear of the building. EPC rating B.

Situation - Poundbury is designed to be a sustainable development where it is possible to meet a higher proportion of daily needs on foot. Within walking distance to the property there is a plethora of amenities including Waitrose, The Duchess of Cornwall Hotel and Restaurant and an ever-growing range of bistros, coffee shops, beauty salons, shops, hairdressers, dentists, medical centre, and garden centre. The Great Field is a short walk away and offers a wonderful open space. A Monart luxury spa is situated within the Royal Pavilion, Queen Mother Square and the Dorset County Hospital is also nearby.
Dorchester, is rich in Roman heritage, with sites like the Dorset County Museum and Maiden Castle offering glimpses into its past. It is also well known for its literary connections to Thomas Hardy and set amongst beautiful rural countryside. Dorchester offers shopping and social facilities with cinemas, museums, leisure centre and weekly market. There are many excellent restaurants, public houses and riverside walks. There are train links to London Waterloo, Bristol Temple Meads, and regular bus routes to adjoining towns. Brewery Square is set within the heart of Dorchester and is a vibrant area offering further shopping and eating facilities with a central open space hosting several events throughout the year.

Accommodation -

Apartment 6 -

Key Features - Entrance to the property is gained via a secure communal entrance. Stairs lead to the second floor where apartment 6 is situated. Apartment 6 opens onto a hall area providing access to all rooms and providing a space to decant outdoor footwear.

A generous open-plan rear-aspect space with a modern kitchen area fitted with a range for storage, worksurface and integrated appliances including oven, four-ring hob with extractor over, dishwasher, washing machine and fridge/freezer. Space is offered for a dining table and chairs. The room further provides a good-size reception space for living room furniture and there are three rear aspect windows with some countryside views.

There are two double bedrooms, both with front aspect windows. Bedroom one benefits from fitted wardrobes.

A modern bathroom fitted with a white suite comprising of panel enclosed bath, low-level WC and pedestal wash hand basin. The room is finished with stylish vinyl, tile effect flooring and part tiled walls.

Agents Notes - Lease length - 250 years from and including 3rd December 2021.

There is an annual service charge of £1,951.18

There is a monthly rent payable of £ 533.00 for the remaining 75%. The asking price represents 25% ownership.
The property is currently owned as shared ownership but there is an option to staircase to 100% ownership of the freehold upon completion.

Any purchaser, applying to purchase the property under shared ownership, must have a local connection to Dorset either through residency, work or family.

There is an annual Manco charge with charges varying between £225 and £315 dependent upon location. Reduced fees are offered for early payment.
For further information on Poundbury including covenants and stipulations, please visit

Flood Risk - Enquire for up-to-date details or check the website for the most current rating.



Mobile And Broadband - At the time of the listing, standard, superfast and ultrafast broadband are available.

Mobile phone service varies dependent upon your provider.

For up-to-date information please visit

Services - Mains electricity, water and drainage are connected.
There is gas fired central heating.

Local Authorities - Dorset Council
County Hall
Colliton Park
Dorchester
Dorset
DT1 1XJ

Tel:

Council tax band C.

Eligibility - Guidance Notes From Places For Peopl - Shared ownership is aimed at people who otherwise would be unable to afford to purchase a home suitable for their current housing needs. Applicants must demonstrate they can afford to purchase the property and sustain ongoing housing costs. Places for People will assess a potential purchaser’s application in line with the following guidance and, if applicable, in line with the requirements of the individual lease.

Affordability
Housing costs ( mortgage, rent and service charge) should total between 25% and 45% of the applicant’s net income to qualify. Housing costs under 25% of the applicant’s net income indicate the applicant may be able to purchase on the open market. Housing costs above 45% of the applicant’s net income indicate the purchase is not affordable / sustainable. In these situations, the application is likely to be declined, however Places for People recognise that there will be situations which require them to be flexible.

Eligibility
Applicants would be considered eligible if they fall within the following groups (this list is not exhaustive):

* Council tenants and housing association tenants.
* Those who can avoid the need for social tenancies, for example those on housing waiting lists and considered by Local Authorities to be in priority housing need.
* Those that will address housing problems in local and regional housing markets, for example key workers and then other first-time buyers.
* Places for People will consider applications from people who have previously owned their own home if they:
* previously owned a home with a partner and that relationship broke down.
* need to move into an area because of their job and are unable to afford to buy outright.
* are shared owners whose income has fallen, and they could only stay as homeowners by moving to a smaller, cheaper home.
* are shared owners whose family has grown but who are still unable to afford to buy outright.

AND the applicant must meet all the following criteria:
* In the opinion of Places for People can afford to purchase the property and sustain ongoing housing costs.
* Have savings or access to funds that will cover the initial costs of buying, such as mortgage product fee; legal fees; survey and valuation fees; deposit on exchange of contract; and stamp duty.
* Be in permanent or fixed term employment.
* Aged 18 or over.
* Have a bank account.
* Have a maximum annual income of £80,000 (or, in London £90,000).

Applicants who would not be considered eligible.
The following list describes applicants who would not be considered eligible to purchase a shared ownership property. This list is not exhaustive.

* In the opinion of Places for People has the ability to purchase a home suitable for their current housing needs on the open market
* In the opinion of Places for People is unable to afford the purchase or sustain ongoing housing costs for the property they have applied to buy.
* Has unsecured debts over £15,000
* Has a current county court judgement that is unpaid or not yet formally ‘satisfied’
* Unable to secure a mortgage through the approved lender list as provided by the Communities and Local Government Department.
* Where the property to be purchased would not be the applicant’s sole residence
* Where there is evidence of a significant breach of a previous tenancy condition
* If there are current rent or mortgage arrears or if there have been arrears within six months prior to the application.
* Their immigration or asylum status would render them unable to benefit from public funds.

Evidence of Funding
Places for People will require information/evidence to accompany an application to demonstrate how the purchase of the property will be funded. This will include but is not limited to:
* A copy of a Mortgage offer/Offer in Principle
* Evidence of Savings
* Details and evidence of any cash gifts, including from those who are gifting monies.

Stamp Duty - Stamp duty is likely to be payable on this property dependent upon your circumstance.
Please visit the below website to check this.