Wellington Fields, Derbyshire

£37,500 for a £25% share

What's included

• Fitted kitchen with stainless steel, cooker, hob, extractor hood and splashback in the kitchen
• 3 piece bathroom suite
• Turf to the rear garden
• Cushioned laminate effect flooring to the kitchen and bathroom
• Parking Space

Description

Part Buy/Part Rent – 2 & 3 bedroom houses  – NOW AVAILABLE – **Last one remaining **

Price from £37,500 for a 25% share

Wellington Fields, Derbyshire

What’s included:

• Fitted kitchen with stainless steel, cooker, hob, extractor hood and splashback in the kitchen
• 3 piece bathroom suite
• Turf to the rear garden
• Cushioned laminate effect flooring to the kitchen and bathroom
• Parking Space

Description:

Wellington Fields is a development by Miller Homes and we have one two bed house remaining. You can buy shares from 25% up to 80%.

The site is located in Ashbourne. Ashbourne is a picturesque small market town situated at the southern tip of the Peak District, and has all the local amenities you would expect. It contains many historical buildings and a wealth of quality independent shops.

Ashbourne Hill Infant School and the nearest Secondary school,Queen Elizabeth Grammar School are both just under 1 mile away.

There are excellent commuter routes to Derby, Nottingham and Stoke on Trent with easy access to the A52 bypass.

All our new homes offer generous living accommodation and off road parking.

For more information or to arrange a viewing, call the sales team today on 01332 346477 or email info@derwentliving.com

Written applications are required and are subject to meeting certain eligibility criteria.

Pricing is as follows –

56 Lathkill Drive,Ashbourne,DE6 1SW- 2 Bed – £120,000 for 80% - Mid terrace

Share %	Price	Monthly Rent	Monthly S/C	Total monthly
25%	£37,500	£257.81	£25.83	£283.64
50%	£75,000	£171.88	£25.83	£197.71
80%	£120,000	£68.75	£25.83	£94.58

What is part-buy, part-rent? If you are unable to buy a property outright on the open market, then part-buy, part-rent is the ideal solution for you. The scheme enables purchasers to buy a home in stages. Purchasers can buy an initial share, usually 50%, of the value of the property and pay a subsidised rent on the remaining value of the property. Shared ownership properties can be provided by housing associations, housing trusts and local authorities.

Where do I start?  When you see a property you like, you must meet with the housing provider and make sure you meet the eligibility criteria to make a purchase.

How do I decide what share I want to buy? The purchase price is based on an independent valuation from a qualified valuer. If you decide you want to proceed you will need to agree the size of the share you wish to purchase. Once this is all agreed, you then have to arrange a mortgage. The housing provider will tell you how much rent you will need to pay on the remaining share.

Do I have to share with anyone else? You do get a whole property and you don’t share with anyone else you don’t know. However, it would be possible for a group of friends to buy together. Four individuals can become joint owners, but each applicant must meet the eligibility criteria.

Is the property actually mine? Although you don’t own the property outright, you will have all the rights and responsibilities of a full home ownership.

But can I just own 50%? The scheme allows you to progress to outright ownership. As your financial circumstances improve, you can buy more shares up to a maximum of 80%. Sometimes this is referred to as “staircasing.” Alternatively, you can stay with your 50% for as long as you like.

How much does it cost? As with any house purchase, you will be responsible for paying your own legal fees, including local search and Land Registry fees. The provider’s solicitor will also charge a fee. You will need to pay fees for survey/mortgage valuation to your bank or building society.

Will I have to pay stamp duty?  Stamp Duty Land Tax is payable according to revenue law.  Please consult your solicitor for specific advice on your property.

What costs do I incur once I move in? The running costs will be your mortgage payment, the rent, the service charge, house contents insurance, council tax and normal bills like gas, electricity and water. Rent is reviewed every year and will fall in line with the Rental Price Index. You will need to pay for repairs and maintenance to the property not covered by the NHBC (National House-Building Council).

What happens if I decide to sell? Selling your equity in a shared ownership property is simple. You simply sell at the percentage you own, depending on the valuation. For instance, if you own 50% of a £100,000 house, you can sell your share for £50,000.

Reasons to choose