42 Husum Place presents an exceptional chance to purchase a brand-new two-bedroom home, available on a part-buy, part-rent basis. Buyers at this stage can acquire anywhere from 10% to 75% shares, with the option to purchase more later. This excellent and affordable housing scheme, provided by the Community Housing Group, is ideal for first-time buyers or those with a limited budget aiming to step onto the property ladder. The flexible scheme allows owners to increase their share up to full 100% ownership after one year, with the rental amount proportionately decreasing. For a 50% shared ownership, the monthly rental amounts to £299.96, inclusive of buildings insurance and administrative fees. Below, you will find information regarding eligibility criteria 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 of a close association outlined below:
In determining whether the household has a close association we will agree a connection exists in the following circ*mstances;
- Where the local connection arises due to residency the applicant(s) must have lived in the partnership area (by choice) for a minimum period of two years.
- Where the applicant(s) meets any of the statutory homelessness definitions included in the allocations policy.
- Where the local connection arises due to employment and the applicant(s) have been in permanent, paid employment for a minimum period of six months, within one of the Local Authority areas included in the Partnership, immediately prior to the application (please see further information below).
- Where the applicant(s) has a close (immediate) family member living in the HC+ partnership area and has done so for a minimum period of five years, immediately prior to the application (please see further information below).
- Where the applicant has resided in the Partnership area for three out of the last five years at the point of application.
Eligibility
To be eligible for shared ownership you:-
- Need to be over the age of 18
- Be unable to buy on the open market
- Not earn in excess of £80,000
- Not already own a property (unless in exceptional circ*mstances)
- 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
- Be registered on HomeChoice plus Housing Register. You can apply online at www.homechoiceplus.org.uk/HouseholdRegistrationForm
- A financial assessment will need to be undertaken by our nominated mortgage who will need to complete an affordability assessment, budget planner and a mortgage buyer/ cash buyer sign off form.
How to apply
Application.pdf (communityhousing.co.uk)
IncomeAndExpenditure.pdf (communityhousing.co.uk)
You need to provide documents to support your application, please use the checklist to ensure you have provided everything that is applicable:
ApplicationChecklist.pdf (communityhousing.co.uk)
You also need to register on our housing register Home Choice Plus – www.homechoiceplus.org.uk – you will then be issued with a letter which we will require sight of.
A financial assessment will need to be undertaken by our nominated financial advisor who will need to complete a budget planner and a mortgage or cash buyer sign off sheet. This is required to comply with Homes England new regulation which came into force from the 1st August 2024.
Once you have completed the application, gathered your evidence, have your budget planner and sign off form and registered on Homechoice Plus, you can email the application with the supporting documents to: sales@communityhousing.co.uk
The Community Housing Group will then assess your application. This normally takes around a week.
Please note: Applications are taken on a first come first served basis and incomplete applications cannot be accepted.
Description
Approach
As you approach 42 Husum Place, you will find a parking space and an electric car charging point for your convenience. A gate to the side provides access to the rear garden.
Hallway
Step inside to a welcoming hallway, with a staircase directly ahead leading to the first floor. A door to the side invites you into the living room.
Living Room
The living room is filled with natural light, thanks to its front-facing window. This versatile space offers ample room for various furniture arrangements, making it perfect for both relaxation and entertaining.
Inner Lobby
At the rear of the living room, a door leads to a conveniently placed inner lobby, which provides access to the kitchen, cloakroom and a useful storage area.
Cloakroom
This practical cloakroom, complete with a WC and washbasin, serves the needs of both residents and guests.
Kitchen/Dining Room
Located at the rear of the property, the kitchen/dining room offers a pleasant outlook over the garden through both a window and French doors. The kitchen is fitted with modern units and includes a cooker, hob and extractor hood. There is also ample space for a dining table and chairs, making it ideal for casual family meals.
First Floor
Landing
Upstairs, the central landing leads to two generously sized bedrooms and the bathroom.
Bedroom One
The master bedroom, the larger of the two, features a front-facing window that floods the room with natural light, creating a serene and relaxing atmosphere.
Bedroom Two
Situated at the rear of the property, the second bedroom offers a peaceful retreat with lovely garden views.
Bathroom
The well-equipped bathroom includes a modern suite featuring a WC, washbasin and a bath with a shower over. An obscure-glazed window to the side allows natural light to fill the room while maintaining privacy.
Garden
To the rear of the property, you will find a private, turfed garden, perfect for alfresco dining and enjoying the outdoors.
To be confirmed.
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, equivalent to 0.5% of the accepted offer unless specified otherwise, 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.
