Property for sale in Wells BA5, 1 Bedroom

Summary
coming soon on A shared ownership scheme! A fantastic 1 bedroom coach house located on the highly sought after Vicarage Fields development, a level walk from the city centre. Finished to a high standard throughout, offering open plan living with the benefit of off road parking.

Description
plot 5

Please contact us about our range of shared ownership homes available on this development.

Price displayed is for the 40% share price.

Open Plan Living/ Dining Area 18' 5" max x 13' 2" ( 5.61m max x 4.01m )

Kitchen Area 12' 4" x 6' 1" ( 3.76m x 1.85m )

Bedroom 13' 4" max x 11' 10" max ( 4.06m max x 3.61m max )

Bathroom

Location
Wells is a city lying in beautiful countryside between the Somerset Levels and the Mendip Hills, an Area of Outstanding Natural Beauty. Wells medieval centre has local markets twice a week, good restaurants, a thriving high street and many important ancient buildings, including the Cathedral and moated Bishops Palace and gardens. There are four major supermarkets on the edge of the city. Wells Leisure Centre has the usual facilities of gym and swimming pool to add to Wells Rugby Club, Tennis club, Bowling club and Golf course. Throughout the year Wells hosts festivals for Music, Literature, Art and Food, and has twinned links with Burgundy, the Rhineland and Northern Italy. There are many societies and clubs for those who would like to join a diverse social community.

How Does It Work?
You buy a share of your home (usually between 40% and 75% of the home's value) and pay rent on the remaining share. You can buy bigger shares at a later stage when you can afford to. You'll need to take out a mortgage to pay for your share of the home's purchase price, or fund this through your savings. Shared ownership properties are leasehold however they do change to become freehold if you get to 100% ownership. Shared ownership is an affordable way to purchase a home on the open market

Am I Eligible?
General eligibility criteria are:
Age: 18 years or over and be a resident in the UK
Household income less than £80,000
Not a home owner or named on a home mortgage (applicants in the process of selling a home will be considered)
Unable to afford to buy a home on the open market
Have available deposit of at least 5% of the purchase price, depending on the lender's requirements
Access to additional £2,500 to cover legal fees and the cost of moving
Be able to financially sustain home ownership in the longer term
Have a good credit history (Your application will probably be unsuccessful if you have any County Court Judgements or Defaults not settled/unsatisfied)

Purchase Details
Applicants will need to provide the following in order to be assessed for their chosen plot.

- A confirmation email/letter on which plot you would like to apply for
- Registration with the HomeBuy agent for this area (on-line registration on )
- Registration with Yarlington Homes ()
- Mortgage agreement in principle with the key facts document,
- Three months' bank statements for all accounts,
- Three months' pay slips,
- Details of any additional income (if applicable),
- Evidence of savings sufficient to cover lender deposit or share being purchased plus an additional £2,500 to cover your legal fees and moving costs,
- Evidence of any outstanding loans including credit cards,
- Photographic proof of id in colour and certified by a financial advisor or solicitor.
- Credit referencing report for each applicant. (available from one of the following websites: , , )

Application forms can be found in our Allen & Harris office.

Other Costs
Plot 5:
40% share £68,000
Monthly rent: £233.75
Service charge £34.34

Please Note
We will endeavour to use the photographs of the actual property but may also show pictures of the showhome, other similar plots and/or computer generated images. Floorplan images may be handed.
A non-returnable £500 Reservation fee will apply once an application has been accepted.
Floor plans and room dimensions are approximate and should not be relied upon.
Yarlington will expect applicants to exchange contracts within a 28 day period from issue of contracts.

We currently hold lease details as displayed above, should you require further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.