5 Alder Way, New Earswick, York - SOLD STC

Features

1 bedroom first floor flat
Balcony
Extended lease

Price

Full value £145,000
25% share available for £36,250
£395.14 monthly charge including rent, repairs & maintenance & buildings insurance

Property details

Map

Local area

Viewing arrangements

Arrangements to view may be made by contacting Josh Sotheran on 07305 224925.

If after viewing you wish to be considered for the property, please contact Emma Corfield for a Financial Assessment Form [email protected]

Accommodation

Entrance Hall with stairs to:

Landing with store cupboard

Lounge with Balcony

Kitchen

One bedroom

Bathroom with WC

Approx. 42 sq M

Parking space

Communal garden

All mains services are connected

Gas fired central heating

Shared Ownership

Shared Ownership represents an ideal opportunity for first-time buyers who are unable to afford full ownership at this time. Residents purchase an initial share in their dwelling and pay a rent on the balance. Further shares up to full ownership may be purchased at any time, based on the then market value of the dwelling with a corresponding reduction in the rent.

First time buyers are reminded that purchasing will incur a number of expenses, such as solicitors’ fees, land registry fees, search fees and mortgage survey/valuation fee.

JRHT does not enter into mortgage agreements with prospective purchasers.

Monthly Payment

A monthly service charge is due to JRHT. Elements are included in this payment:

1. Rent

This is based on the proportion of the dwelling which is retained in JRHT’s ownership: the higher the level of equity purchased by the resident, the lower the level of rent.

2. Full Repairs & Maintenance Charge

This is an amount which covers the management, maintenance, major repairs and the buildings insurance of the property. Residents are responsible for internal redecoration and for arranging contents insurance.

3. Administration Charge

This is a standard charge for all dwellings on this development, which covers JRHT’s administrative costs.

4. Annual Charge

The New Earswick Village Scheme contribution covers the cost of the maintenance of communal landscape.

The monthly payment will be reviewed on 1 January each year.

Increases will be limited to a maximum of 3 percentage points above the increase in the Retail Price Index for the twelve months to the previous September.

Lessee’s Responsibilities

The Lessee's principal responsibilities are:

To meet the monthly Rent, Administration Charge and New Earswick Building Charge

To pay Water Rates, domestic Gas, Electricity Charges and Council Tax

To keep the dwelling clean and in good and substantial repair and condition, clean and well decorated.

You are advised to request your legal representative to go through all the requirements and conditions of the Lease with you prior to purchase.

It is also advisable to ask for a copy of the Lease for yourself. There are 167 years remaining on the current lease.

New Earswick is within easy reach of York city centre by bus or bicycle. The shops of both Clifton Moor, Monks Cross and Vanguard are a short drive away.