*** 100% Ownership at 70% of Open Market Value ***
This semi-detached house is a 'Fixed Equity Unit' that is covenanted to be sold at no more than 70% of the 'Open Market Value' to a buyer with a 'Local Connection' to Malvern Hills District Council area. Construction of the house is anticipated to be completed October/November 2021 under an Architect's Certificate.
A canopy porch with double glazed front door opening to the RECEPTION HALLWAY having doors to kitchen and living room and a door to:
Having a white low flush w/c and wash hand basin with tiled splash back, radiator, extractor fan and ceiling light point.
FITTED KITCHEN 3.18m x 2.74m (10'5" x 9'0")
(Measurements include units) having a range of base and wall units with worktop surfaces, single bowl/single drainer sink and built-in electric oven and gas hob with cookerhood over. A double glazed window to front, radiator and ceiling light point.
LIVING ROOM 5.03m x 4.29m (16'6" x 14'1")
(Measurements include stairs) having a double glazed window to side, double glazed doors opening to the rear garden, radiator, built-in cupboard, stairs to the first floor and ceiling light point.
From the living room, the stairs with balustrade lead up to the FIRST FLOOR LANDING having built-in airing cupboard and ceiling light point.
BEDROOM ONE 4.29m x 2.57m < 3.23m (14'1" x 8'5" < 10'7")
(Measurements include recess) having a double glazed window to front, radiator, ceiling light point and door to:
EN SUITE SHOWER ROOM 2.16m x 1.32m (7'1" x 4'4")
(Max measurements including suite) having a white suite comprising: a low flush w/c; wash hand basin; and a shower cubicle. Part tiled walls, obscure double glazed window to side, radiator, extractor fan and ceiling light point.
BEDROOM TWO 3.23m x 2.90m (10'7" x 9'6")
(Measurements exclude cupboard) having a cupboard built-in over the stairwell, double glazed window to rear, radiator and ceiling light point.
FAMILY BATHROOM 2.16m x 1.68m (7'1" x 5'6")
(Measurements include suite) having a white suite comprising: a low flush w/c; wash hand basin; and a panelled bath. Obscure double glazed window to side, radiator, extractor fan and a ceiling light point.
The property benefits from spaces for two cars side-by-side at the rear with a gate into the rear garden.
The house stands back behind a lawn behind a post and rail fence and is approached via a gate over a paved path. The path continues along the side of the house to the rear where the property benefits from a private rear garden compromising: a paved patio to rear of the house, beyond which is a lawn, a paved path to the gate at the rear opening to the parking beyond.
The vendor advises us that the property is FREEHOLD. Allan Morris & Peace Limited would stress that they have not checked the legal documentation to verify the status of the property and would advise the buyer to obtain verification from their solicitor.
COUNCIL TAX BAND: to be confirmed
(Malvern Hills District Council)
EPC RATING: to be confirmed
(Energy Performance Certificate)
FIXED EQUITY UNIT
Planning permission was granted for this property with a clause in the section 106 agreement that the property always has to be sold at a "Discounted Price". Under the s.106 agreement, "Discounted Price" is defined as: "70% of the Open Market Value of the Fixed Equity Unit (or such other lower figure as otherwise may be agreed in writing between the parties)". The criteria also states that the property should be sold to a person with a "Local Connection" to Malvern Hills District Council.
Under the s.106 Agreement, "Local Connection" is defined as:
"A connection with the District Council's administrative area which meets one of the following criteria (and allocation of Affordable Housing Units shall be made in the following order of priority):
(i) Residence: the applicant's principal residence was settled accommodation within the District at the date when the affordable housing vacancy was advertised on Home Choice Plus and for at least 6 (six) months prior to this date;
(ii) Work: the applicant was working (other than in casual or temporary work) in the District at the date when the affordable vacancy was advertised on Home Choice Plus and for at least 6 (six) months prior to this date;
(iii) Previous residence: the applicant's principal residence for at least 3 (three) of the previous 5 (five) years was settled accommodation within the District;
(iv) Giving or receiving care: the applicant has a demonstrable and clearly identified long term need to live in the District to care for or receive care from close relatives, namely a grandparent, parent, sibling or child who live in the District;
(v) Other: where no applications are received from persons who meet any of the criteria (i) - (iv) above, any applicant registered on Home Choice Plus on the basis of their assessed housing need, priority being given to applicants who have a local connection to the District.
If an applicant meets the location criteria then an application form must be submitted by e-mail to: HousingStrategyandEnabling@wychavon.gov.uk; said application form can be obtained from the selling agent. The applicant will also need to send: copies of their most recent 3 months or 8 weeks wage slips for all applicants; copies of their savings e.g. building society books, bank statements etc; a mortgage offer in principle detailing the maximum amount they are able to borrow; and proof of their local connection.
OTHER USEFUL INFORMATION
Help-to-Buy equity loans cannot be used; DMS properties cannot be rented out; the owner will own 100% of the freehold of the property, however, to ensure that the property remains as affordable housing, the discount remains in place in perpetuity, with the 30% discount being applied at the time of any resale.