Sold STC

Elan Close

Cookley, Kidderminster

  • 3

  • 1

  • 1

  • Now available with no local connection requirements
  • 5% gifted deposit available (£7000 at 50%)
  • Shared ownership
  • New home
  • Village location
  • Spacious kitchen diner
  • Newly landscaped garden
  • Driveway parking

Fixed price

900 sq. ft.

Tenant Info
Email the team

01384 370 232

Please quote reference number JHE220301

A brand-new detached home in the delightful village of Cookley, now available with no local connection requirements and being sold on a part buy, part rent basis.
  • Now available with no local connection requirements
  • 5% gifted deposit available (£7000 at 50%)
  • Shared ownership
  • New home
  • Village location
  • Spacious kitchen diner
  • Newly landscaped garden
  • Driveway parking

Now available with no local connection requirements. A rare and exciting opportunity to purchase a brand-new home being sold on a part-buy, part-rent basis with a 50% to 75% share available to purchase initially.

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 £341.83, which includes buildings insurance and administrative fees. Below is information pertaining to eligibility and how to apply.

Qualification eligibility criteria
Applicants are not eligible to join the Home Choice Plus housing register unless they meet the qualifying criteria outlined below;

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.

The property is approached via a block-paved driveway with a paved pathway leading to the covered porch and front door.

As you enter the property you are greeted by a welcoming entrance hallway, with stairs rising to the first floor and a door leading to the living room.

Living room
The living room has a window to the front aspect.

Situated to the rear of the property is a spacious kitchen/diner, which is great for modern family living and flows nicely onto the rear garden via the French doors. The kitchen has natural coloured wall and base units, with granite effect worktops incorporating an inset sink and drainer. There is also a built-in oven and hob with an extractor above, space for further appliances, down lighters and a window to the rear aspect.

First floor
The landing has a storage cupboard and doors leading to the family bathroom and three bedrooms.

Bedroom one is a spacious double bedroom, with a window to the front aspect. The remaining bedrooms two and three both overlook the rear garden.

Family bathroom
Completing the accommodation is a neatly styled family bathroom featuring a white suite comprising a panelled bath with a shower above, a pedestal washbasin and a low-level WC.

To the rear of the property is a newly landscaped garden, which is generous in size and smartly laid out. The garden comprises a paved patio, which gives way to a good-sized lawn. There is a wooden shed at the far end of the garden.

This private garden is enclosed by wooden panelled fencing and has gated access to the side.

Agents note
The vendors inform us new flooring has been laid at the property.

The property has mains gas, mains electricity, mains water and mains drainage.

A 5% gifted deposit is available when purchasing the property. This equates to £7,000 for 50% of the value of the property at £140,000.

Council tax band - to be confirmed.

Reservation Fee - refundable on exchange

A reservation fee, refundable on exchange, is payable prior to the issue of the Memorandum of Sale and after which the property may be marked as Sold Subject to Contract. The fee will be reimbursed upon the successful Exchange of Contracts.

The fee will be retained by Andrew Grant in the event that you the buyer withdraws from the purchase or does not Exchange within 6 months of the fee being received other than for one or more 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 a buyer and a positive completion of an assessment of the buyer’s financial status and ability to proceed.
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.

Once the reservation fee has been paid, any renegotiation of the price stated in the memorandum of sale for any reason other than those covered in points 1 to 3 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.