Gaskin Croft, Welton, Brough

SHARED OWNERSHIP - 25% PURCHASE

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

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 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
Composite entrance door, radiator, consumer unit, access to lounge, stairs leading to first floor accommodation.

LOUNGE 3.50 x 4.70 (11'5" x 15'5")
UPVC double glazed window to the front, fitted with wooden shutters, radiator, laminate flooring, access to kitchen/diner.

KITCHEN/DINER 4.62 x 2.61 (15'1" x 8'6")
Fitted with a range of shaker style wall & base units with complimentary work surfaces, stainless steel sink with mixer tap, space/plumbing for washing machine, integrated electric oven, four ring gas hob, extractor hood, space for fridge/freezer, space for dining table, radiator, recessed spotlights, access to WC, UPVC double glazed window to the rear, UPVC double glazed patio doors leading to rear garden, fitted with wooden shutters,

W.C/CLOAKS 1.61 x 1.01 (5'3" x 3'3")
Low level WC, wall mounted wash hand basin, radiator.

FIRST FLOOR

LANDING
Loft hatch access, radiator.

BEDROOM ONE (FITTED) 4.63 x 2.95 (15'2" x 9'8")
UPVC double glazed window to the front elevation radiator, fitted wardrobes.

BEDROOM TWO (FITTED) 4.60 x 2.71 (15'1" x 8'10")
UPVC double glazed window to the rear, fitted wardrobes, radiator.

BATHROOM 2.45 x 1.57 (8'0" x 5'1")
Modern bathroom suite, paneled bath with shower over, pedestal wash hand basin, WC, radiator, recessed spotlights.

OUTSIDE
To the front of the property is the block paved driveway providing ample off road parking, gated side access to the rear garden. To the rear an enclosed south facing garden which is mainly laid to lawn with a paved patio area. Part wooden fence & brick wall surrounds the perimeter.

SERVICES & 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 £58,500 and the rent will be £368.58 a month. If you buy a larger share, you'll pay less rent.

MONTHLY PAYMENT TO LANDLORD (excluding rent)
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.

RESERVATION FEE
£0 - Nil

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 providers 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)
• Privacy Notice
(https://www.eastriding.gov.uk/council/governanceand-spending/how-we-use-your-information/findprivacy-information/privacy-notice-for-sharedownership-housing-applicants/)

TENURE
Leasehold.

LEASE TYPE
Shared ownership house lease model 2016-21.

LEASE TERM
990 years from Lease Start Date of 09/2/2024.

RENT REVIEW
Your rent will be reviewed each year by a set formula using the Retail Prices Index (RPI) for the previous 12 months plus 0.5%.

MAXIMUM SHARE YOU CAN OWN
At 100% ownership, the freehold will transfer to you.

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.

LANDLORD'S 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.

The landlord may decide to waive their rights to the nomination period (either from the outset or during the existing nomination period).

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