Fixed Price 50% Share £152,500.
Monthly Rent £395.53.

A 5% deposit will be paid towards your purchase- for a 50% share this would amount to £7,625.

A fantastic opportunity to purchase a brand-new three-bedroom home on the south side of Worcester bordering Kempsey village. Being sold on a part buy, part rent basis.

• Shared ownership
• Worcester City connection eligibility
• 5% gifted deposits approved
• Affordable family home in popular development
• Brand-new property
• Cloakroom
• Off-street parking
• Garden

This three-bedroom end of terrace home with a two car driveway at the front of the property is being sold on a part-buy, part-rent basis with a 50% to 75% share available to purchase initially. This new property by St Modwen Homes is beautifully situated on the Malvern side of Worcester, close to Kempsey village. To be eligible, the successful candidate will need to meet the standard requirements of a shared ownership property along with Worcester City connection criteria as well.

This excellent and affordable housing scheme is provided by the Community Housing Group, ideal for first-time purchasers or those with a limited budget who want to get on the property ladder. The flexible scheme allows the owner to increase owned shares after one-year up to the full 100% ownership, with the rental amount payable diminishing pro rata. On a 50% shared basis, the rental per calendar month is £395.53 which includes buildings insurance and administrative fees. Below is the information pertaining to eligibility and how to apply and the required criteria for a Worcester City connection.


Eligibility
Worcester City Connection
Priority will be given to Applicants who have a local connection to Worcester City only with the postcode area of WR1, WR2, WR3, WR4 and WR5.
Please note if postcode of WR2, WR5 and WR4 falls into Malvern Hill or Wychavon boundary applicant would not be eligible to apply – please click link to check the boundary My Local Area - Worcester City Council
Applicants must meet the following criteria:
Is registered on Housing For you – You can register here: www.housingforyou.co.uk
- Lives in Worcester City (for at least 6 months out of the last 12 or 3 out of the last 5 years)
- Has Close family (Mother, Father, Brother, Sister, Son or Daughter) who have lived in Worcester City for at least 5 years
- Has Permanent employment in Worcester City.

To be eligible for shared ownership you:-
- Need to be over the age of 18
- Be unable to buy on the open market
- Not already own a property (unless in exceptional circumstances)
- Be able to raise a mortgage to cover the share you wish to purchase
- Be able to afford to pay the remaining rent and bills etc.
- Have enough saved to cover the mortgage and legal fees and any additional moving costs
- Have no more than £15,000 unsecured debt

Please note: A financial assessment will need to be undertaken by Louise Grant at The Financial Advice Centre before an application can be made. Applications are taken on a first come, first served basis and incomplete applications cannot be accepted.


Description
33 Pear Tree Drive is a three-bedroom end of terrace modern home, with off-street parking for two vehicles. There is a gated side entrance at the rear leading to a patio area, which wraps around the backdoor.

Immediately as you enter the property from the front door, you are welcomed by a bright hallway, where there is a cupboard located next to the entrance, perfect for storing shoes and coats.

In the hallway there is a staircase rising to the first floor, an under-stairs storage cupboard and doors to the living room, kitchen and cloakroom comprising a wash basin.

Situated to the right of the front door is the main living area, which has a lovely outlook to the front.

At the end of the hallway situated to the right is the kitchen, which overlooks the rear garden. The kitchen’s clever layout and high-quality finish create a light and friendly space, which flows seamlessly onto the garden and patio via the backdoor.


First floor
Moving upstairs, the landing features two cupboards and grants access to the bedrooms and the main bathroom.

The bathroom contains a bath with a built-in power shower, a washbasin and a WC, all completed to a high standard.

Bedrooms one and two are spacious enough to comfortably fit in a double bed. The second bedroom overlooks the garden and bedrooms one and three are positioned towards the front of the property.

Mains gas, electricity and water are connected to the property.

Council tax band - to be confirmed.

Reservation Fee - refundable on exchange

A reservation fee, refundable on exchange, will be payable by the Buyer to Andrew Grant Sales Limited prior to issuing the Memorandum of Sale and marking the property as Sold Subject to Contract. This fee will be reimbursed upon Exchange of contracts.

The fee will be retained by Andrew Grant Sales Ltd to cover costs in the event the Buyer withdraws from the purchase or doesn't Exchange within 6 months of the fee being received other than for any of the following reasons:   

1. Any significant material issues highlighted in a survey that were not evident or drawn to the attention of you the buyer prior to the Memorandum of Sale being issued.
2. Serious and material defect in the seller’s legal title. 
3. Local search revealing a matter that has a material adverse effect on the market value of the property that was previously undeclared and not in the public domain.  
4. The vendor withdrawing the property from sale.

The reservation fee levels are as follows:
an agreed offer under £500,000 will be £750 inclusive of vat
an agreed offer between £500,000 and £1,000,000 will be £2,000 inclusive of vat
all agreed offers over £1,000,000 will be £3,000 inclusive of vat

The reservation fee is payable upon acceptance by the vendor of an offer from the buyer and a positive completion of an assessment of the buyer’s financial status and ability to proceed. Once the reservation fee has been paid, any renegotiation of the price stated in the memorandum of sale for any reason not covered in points 1 to 4 above will lead to the reservation fee being retained. A further fee will be levied on any subsequent reduced offer that is accepted by the vendor. This further fee will be subject to the same conditions that prevail for all reservation fees outlined above. 

Should a buyer’s financial position regarding the funding of the property prove to be fundamentally different from that declared by the buyer when the Memorandum of Sale was completed, then the Vendor has the right to withdraw from the sale and the reservation fee retained. For example, where the buyer declares themselves as a cash buyer but are in fact relying on an unsecured sale of their property.