Garnetts Grove, Otley £91,000

35% SHARED OWNERSHIP OFFERED FOR SALE AT A FIXED PRICE. Just 7 years old, this is an ideal opportunity for first time buyers or other eligible buyers* to enter the property market and purchase this attractive two bedroomed end town house that includes a southerly facing rear garden and has private off road parking. Located within the highly sought after Garnetts Wharfe area of Otley, close to beautiful riverside walks, easily accessible for public transport, local schools and within comfortable walking distance of the town centre. The property Comprises an entrance hallway, a valuable downstairs cloaks wc, kitchen and a lovely living / dining room with French doors that open out to the southerly facing rear garden. The first floor has a landing from which you access the two bedrooms and the bathroom wc. Criteria, Eligibility And Costs Are Outlined Within The Main Body Of Information Detailed In The Brochure And Online. Should You Have Any Questions About This Please Contact Shankland Barraclough Estate Agents In Otley, Before Arranging A Viewing.

* please see Eligibility criteria within the main body of text.

35% SHARED OWNERSHIP OFFERED FOR SALE AT A FIXED PRICE. Just 7 years old, this is an ideal opportunity for first time buyers or other eligible buyers* to enter the property market and purchase this attractive two bedroomed end town house that includes a southerly facing rear garden and has private off road parking. Located within the highly sought after Garnetts Wharfe area of Otley, close to beautiful riverside walks, easily accessible for public transport, local schools and within comfortable walking distance of the town centre. The property Comprises an entrance hallway, a valuable downstairs cloaks wc, kitchen and a lovely living / dining room with French doors that open out to the southerly facing rear garden. The first floor has a landing from which you access the two bedrooms and the bathroom wc. Criteria, Eligibility And Costs Are Outlined Within The Main Body Of Information Detailed In The Brochure And Online. Should You Have Any Questions About This Please Contact Shankland Barraclough Estate Agents In Otley, Before Arranging A Viewing.

* please see Eligibility criteria within the main body of text.

Otley is a beautiful Yorkshire market town having a population of approximately 15,000 people, set on the banks of the River Wharfe. Otley is a friendly and picturesque town with a rich commercial and community life. The town lies in attractive countryside within Mid-Wharfedale at the centre of the rural triangle between Leeds, Harrogate and Bradford. Immediately to the south of the town rises Otley Chevin, which gives magnificent views over Mid-Wharfedale, fantastic walks and cycling routes and in the past provided much of the stone from which the town centre was built. Highly regarded primary schools and the outstanding Prince Henry's Grammar School are found within the town itself, together with a lovely mix of popular branded stores a fantastic array of independently run shops, making Otley a very popular and pleasant town in which to live.

The accommodation with GAS FIRED CENTRAL HEATING, SEALED UNIT DOUBLE GLAZING and with approximate room sizes, comprises:

Entrance Hallway
Via a composite outer door to the front elevation, a central heating radiator and the staircase to the first floor.

Downstairs WC
Fitted with a low level wc and was hand basin. Window and a central heating radiator.

Sitting Room (4.32m x 4.17m (14'2" x 13'8"))
Located to the rear of the building this light and airy sitting room has French doors that open out to the southerly facing enclosed garden. Oak flooring, a central heating radiator and useful understairs storage cupboard.

Kitchen (3.89m x 1.91m (12'9" x 6'3"))
Offering a range of fitted wall and base units having worksurfaces over and a sink unit inset. Space for an electric cooker, fridge-freezer, washing machine and dishwasher. Window to the front elevation.

First Floor Landing
Access hatch to the loft with a pull down ladder. The loft is part boarded.

Bedroom 1. (4.17m x 2.82m max (13'8" x 9'3" max))
Two windows to the rear elevation enjoying a very pleasant open outlook. Central heating radiator.

Bedroom 2. (3.23m x 2.64m (10'7" x 8'8"))
Two windows to the front elevation, two built in cupboards and a central heating radiator.

House Bathroom
Fitted with a three piece suite in white comprising a panelled bath with a shower over. Wash hand basin and a low level wc. Tiled splash backs, an extractor fan and a central heated towel rail.

Outside
To the front the property benefits from having a private driveway for parking 1 car with further parking to the road. Moving around to the rear is a southerly facing garden, fully enclosed by fencing and includes a patio, small artificial lawn and decking to a large timber outhouse store, which has potential to be insulated and made in to a home office.

Tenure, Services And Parking
Tenure: As the property is Shared Ownership the property is offered Leasehold. There is an option to buy now or in the future up to 100% of the ownership. At 100% ownership the property becomes Freehold in your name alone.
Leasehold Details
125 Years from 01/01/2018 (so approximately 118 years remaining)
All Mains Services Connected
Parking: Private Driveway To Front

Yorkshire Housing Shared Ownership Application
https://apply.yorkshirehousing.co.uk/ApplyOnline/
LowCostHomeOwnership#Page=0

Once the application has been approved, the buyer will need to contact us and provide us with the following documents:
1. A signed declaration form
2. Proof of ID
3. Mortgage in Principle
4. Proof of Deposit
5. Proof of Address (Utility bill or bank statement in the last 3 months)
6. Last 3 months wage slips and P60

Council Tax Leeds
Leeds City Council Tax Band C. For further details on Leeds Council Tax Charges please visit www.leeds.gov.uk or telephone them on 0113 2224404.

Internet and Mobile Coverage
Independently checked information via Ofcom shows that Ultrafast Broadband up to 1000 Mbps download speed is available to this property. Mobile Phone coverage is available to the four main carriers. For further information please refer to: https://checker.ofcom.org.uk

Viewing Arrangements
We would be delighted to arrange a viewing for you on this property. To view, please contact Shankland Barraclough Estate Agents on (01943) 889010, e-mail us This email address is being protected from spambots. You need JavaScript enabled to view it. or call in to our office at 26 Kirkgate, Otley LS21 3HJ.

Opening Hours
Monday to Friday 9am - 5.30pm
Saturdays 9am - 4pm

Mortgage Advice
We are delighted to offer Whole of Market Mortgage advice through our relationship with T&C Independent Mortgage Advisors. To make an appointment please ring 01943 889010 and we will arrange for our advisor to help you source the most suitable mortgage for your circumstances.

The Initial consultation is free of charge and totally without obligation. A fee may then be payable if you choose to use their services.

Offer Acceptance & AML Regulations
Money Laundering, Terrorist Financing & Transfer of Funds Regulations 2017. To enable us to comply with the expanded Money Laundering Regulations we are required to obtain proof of how the property purchase is to be financed as well as identification from all prospective buyers. Buyers are asked to please assist with this so that there is no delay in agreeing a sale. The cost payable by the successful buyer(s) for this is £20 (inclusive of VAT) per named buyer and is paid to the firm that administers the money laundering ID checks, Movebutler. Please note the property will not be marked as sold subject to contract until appropriate identification has been provided and all AML checks are completed.

Please Note
The extent of the property and its boundaries are subject to verification by inspection of the title deeds. The measurements in these particulars are approximate and have been provided for guidance purposes only. The fixtures, fittings and appliances have not been tested and therefore no guarantee can be given that they are in working order. The internal photographs used in these particulars are reproduced for general information and it cannot be inferred that any item is included in the sale.

Eligability, Costs & Conditions
Property type 2-bedroom house
Scheme - Shared ownership resale
Full market value £260,000

Share Purchase Price and Rent Examples
The share purchase price is calculated using the full market value and the percentage share purchased.
If you buy a 35% share, the share purchase price will be £91,000, and the rent will be £388.81 a month. If you buy a larger share, you'll pay less rent. The table below shows further examples.
% Share, The Share Purchase Price & Monthly Rent Associated With That Percentage Share of Ownership
40% £104,000 £358.90
50% £130,000 £299.08
60% £156,000 £239.27
70% £182,000 £179.49
75% £195,000 £149.54
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.

Monthly payment to the landlord. In addition to the rent above, the monthly payment to the landlord includes
External Management Fee £17.08
Building Insurance £8.14
Administration £2.52
Total monthly payment excluding rent £27.74
Reservation fee £0.00 You don’t need to pay a reservation fee to secure your home.

Eligibility
To assess your eligibility, you'll need to complete an application form with Yorkshire Housing.
You 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.
Tenure Leasehold
Lease type Shared ownership house lease
Lease term 118 years remaining
For more information, see section 2.5, ‘Lease extensions’, in the ‘Key information about shared ownership’ document.

Rent review
Your rent will be reviewed each year by a set formula using the Retail Prices Index (RPI) for the previous 12 months plus 0.5%
For more information, see the Rent Review section in the 'Summary of Costs' document which includes an example of how rent could increase over a 5 year period. A worked example demonstrating how the rent is calculated at review is also set out in Appendix 2 of the lease.
Maximum share you can own: You can buy up to 100% of your home.
Transfer of freehold: At 100% ownership, the freehold will transfer to you.
Landlord
Yorkshire Housing
The Place
2 Central Place
Leeds
LS10 1FB

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.
Landlord’s nomination period
When you give the landlord notice that you intend to sell your share in your home, the landlord has 8 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 8 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 can rent out a room in the home, but you must live there at the same time.
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