This three bedroom terraced home is a lovely addition to Allesborough Farm. On entering the property you will find a spacious hallway complete with wood effect flooring and spotlights throughout.
To the front of the property you will find a spacious, bright and modern living area complete with floor to ceiling windows which flood plenty of natural light into the room.
To the rear of the home you will find a large kitchen/dining area complete with French doors leading to a West facing garden, a perfect space for entertaining guests. Kitchen is fully fitted with shaker style doors and stainless steel handles and included a single oven, ceramic hob and stainless steel extractor hood.
Upstairs you will find the master bedroom and two additional bedrooms.
Bathroom space comes complete with white Villery Boch suite. Ceramic wall tiling throughout and shower over the bath included.
Flooring included throughout the home.
Buying a home with us
Hellens Residential is a private registered provider of affordable homes for rent and low cost home ownership. Discount Market Sale is low cost home ownership whereby a new build property is purchased at a discounted purchase price compared to homes in the market.
You will be the sole home owner from move in and you will own the home outright with no interest from other parties. The only condition on the property is that the home must be sold on in any future sales at the same discount rate, in this instance 70% of its market value.
Discount Market Sales housing is property sold at a discounted price, i.e. less than the full market value. This scheme is for people whose income is not enough to enable them to buy a property to meet their needs on the open market, but enough to buy a property at a discounted price. You would need to prove that you could not afford to buy the property at its full market price.
To enable Wychavon District Council to assess whether or not you meet the criteria that determines housing need and are eligible for the low-cost housing there is a short application you will need to complete.
You must be able to evidence that you cannot afford to purchase a property on the open market. Applicants should not have a joint income of over £80,000. If savings and the Mortgage in Principle total over to the Open Market Value you would be unsuccessful.
Along with a completed application form you will also need to provide the following:
* Copies of your most recent 3 months or 8 weekly wage slips for all applicants
* Copies of your savings e.g. building society books, bank statements etc
* A mortgage offer in principal detailing the maximum amount you are able to borrow
* Proof of your local connection.
What is local a connection?
“Qualifying Resident” – means a person who is in need of Affordable Housing and has:
*lived in the District of Wychavon by choice for six (6) months out of the last twelve (12) months or three (3) years out of the last five (5) years, or
*has close family living in the District of Wychvaon who have been permanently resident for at least the previous five (5) years (close family is specifically mother, father, brother, sister, adult son or adult daughter), or
*has permanent paid employment within the District of Wycahvon, or
*has local connection to the Distict of Wychavon as a result of special circumstances (subject to the approval by the Housing Services Manager), or
* if no person qualified pursuant to the above then a person who is on the Home Choice Plus Register ad is approved in writing by the Council as being in need of Affordable Housing and is ordinarily resident in the United Kingdom.
Important information continued
This property is being sold at 70% of the open market value. On any subsequent sales, the property is to be sold at 70 % of the open market to a ‘Qualifying Person’ i.e. a Person who can evidence that their housing needs are not met by the open market and who fulfills local connection criteria. So if the property was purchased and re-sold, these stipulations would need to be adhered to.
Further information regarding DMS properties
* Help to Buy Equity Loan cannot be used.
* The DMS properties cannot be rented out.
* We are often asked the question “who owns the remaining 30% of the property?”. In short, the answer is no-one. The owner will own 100% freehold of the property, however, to ensure that the property remains as affordable housing, the discount remains in place in perpetuity.
So, if the property was purchased and then sold again in the future, the 70% discount would be applied to the open market value at the time the property was being sold.
A DMS property may be sold at any time. The owner must notify the Council in writing of their intention to sell. This can be done by emailing the Council’s Housing Strategy and Enabling team. The sale must be made under the same terms and at the same discount percentage as at the time of original sale/purchase.
For example, a property purchased with a 30% discount can only be sold at 70% of its current open market value (OMV). The owner must obtain and provide the Council with two written valuations for the full OMV, from reputable local agents. The sales value is then calculated and agreed by taking the average of the two valuations and applying the 30% equity discount. The agreed value then becomes the maximum sales value the property can be sold at.