Property for sale in Watson Drive, Eastrington, Howden DN14

A fabulous opportunity to acquire a 'new build' property positioned on this popular Dimmack Brothers Development off Nanrock Close in the village of Eastrington, close to Howden.

The property is offered for sale on a shared ownership basis through the East Riding of Yorkshire Council. Shares available from 10% to 75%.

Briefly comprises of entrance hall, open plan kitchen/living area with cloakroom off the kitchen. 2 bedrooms to the first floor, storage and modern bathroom suite. Outside, driveway to the front of the property provides off-street parking and there is a lawned enclosed garden to the rear.

Tenure - Leasehold

Council Tax Band - tbc

EPC - B

The Accommodation Comprises

Ground Floor

Entrance Hall

With staircase off to first floor. Door leading into:

Fitted Kitchen (3.44m x 4.90m (11'3" x 16'0"))

Good range of fitted floor and wall units with complimentary work tops. Incorporating a one and half bowl sink stainless steel sink unit, integrated oven, hob with cooker hood over. A gas fired central heating boiler, power points and radiator. Door leading into cloakroom.

Cloakroom

Comprises of white suite. Low flush wc, wash hand basin, vinyl flooring and splashback.

Through Lounge/Living Area (4.44m x 3.35m (14'6" x 10'11"))

With patio doors to the rear garden aspect. Radiator, Tv and power points.

First Floor

Landing

With access to loft space. Power points. Door to storage cupboard housing hot water cylinder.

Bedroom One (4.42m x 3.19m (14'6" x 10'5"))

Radiator, power points and Tv point. Recessed cupboard with sensor light.

Bedroom Two (3.44m x 2.80m (11'3" x 9'2"))

Radiator, power points and Tv point.

Bathroom (2.35m x 1.98m (7'8" x 6'5"))

Partially tiled modern white suite, comprising panelled bath with shower attachment over, Low flush wc, wash hand basin, heated towel rail. Extractor fan and shaver point.

Outside

To the front of the property is a gravelled driveway with ample parking parking space. The rear is enclosed, mainly laid to lawn. Rear access gate gives access to the pathway at the rear.

Additional Information

Mains gas, electricity & drainage are connected to the property.

Appliances

Appliances have not been tested by the agents.

Share Purchase Price & Examples

The share purchase price is calculated using the full market value and the percentage share purchased.

Able to purchase a share from 10% to 75% dependant on an affordability assessment.

If you buy a 25% share, the share purchase price will be £51,250 and the rent will be £352.34 a month.

If you buy a larger share, you'll pay less rent. The table below shows further examples.
Share Share Purchase Price Monthly rent
10% £20,500 £422.81
25% £51,250 £352.34
30% £61,500 £328.85
40% £82,000 £281.88
50% £102,500 £234.90
60% £123,000 £197.92
70% £143500 £140.94
75% £153,750 £117.45

The percentage share and rent amount will change depending on the amount you can afford. You'll receive a worked example after a financial assessment.

Your annual rent is calculated as 2.75% of the remaining share of the full market value owned by the landlord.

Monthly Payment To The Landlord

In addition to the rent above, the monthly payment to the landlord includes:

Service charge£0
Estate charge£0
Buildings insurance£8.64
Management fee£0.86
Reserve fund payment£0

Total monthly payment excluding rent£9.50

Reservation Fee

Reservation fee£200

You’ll need to pay a reservation fee to secure your home. When you pay the fee, no one else will be able to reserve the home.
The reservation fee secures the home for 84 days. If you buy the home, the fee will be taken off the final amount you pay on completion. If you do not buy the home, the fee is not refundable.

Eligibility

EligibilityYou can apply to buy the home if both of the following apply:

•your household income is £80,000 or less
•you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs

One of the following must also be true:

•you're a first-time buyer
•you used to own a home but cannot afford to buy one now
•you're forming a new household - for example, after a relationship breakdown
•you're an existing shared owner, and you want to move
•you own a home and want to move but cannot afford to buy a new home for your needs

If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.
As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.

Lease Type

Shared Ownership House Lease

Lease Term

990 years

For more information, see section 2.5, ‘Lease extensions’, in the ‘Key information about shared ownership’ document.

Transfer Of Freehold

At 100% ownership the freehold can transfer to you.

Landlord

East Riding of Yorkshire Council
County Hall
Cross Street
Beverley
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.

Landlords 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.

Pets

You can keep pets at the home.

Subletting

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 1.5 in ‘Key information about shared ownership’ document)

and

•have your mortgage lender’s permission if you have a mortgage