Homes in Grove View

About the apartments

These stylish apartments have been built to a high standard, combining traditional style with modern technology.

In total, there are 98 one and two-bedroom apartments located across three apartment blocks available for rent and shared ownership.

10 two-bedroom apartments are available for shared ownership and 82 apartments are available on an affordable rent. Six of the rented one-bedroom apartments have been built to a fully accessible standard.

Key features in all homes include:

• extra-wide doors to aid mobility for wheelchair users
• external balcony or terrace space
• easy access kitchens with fitted electric hob and oven
• mixer water taps
• secure external doors
• slip-resistant, self-draining floors in accessible shower rooms
• full double-glazing
• energy-efficient lighting
• electric power sockets and light switches
• connection point for satellite and terrestrial TV, phone and internet

Examples of apartment layouts

Coming soon.

Prices are correct as of March 2024.

Shared Ownership

Prices for the ten two-bedroom shared-ownership properties are valued between £245,000 and £250,000.

There is a requirement for a minimum shared ownership stake of 10% costing from £24,500 to a maximum share of 75% from £183,750.00. No additional rent to pay on a 75% share.

Affordable Rent

88 of the 98 apartments are to be let at an Affordable Rent, (up to 80% of local market rent) as follows:

One-bedroom rented apartment will cost from £800 per month.

Two-bedroom rented apartment will cost from £920 per month.

Six fully accessible one-bedroom apartments will cost from £880 per month.

FAQs

Will the homes be decorated before I move in?

The Grove View apartments feature a neutral colour scheme, with walls coated in crisp white paint throughout. Carpets extend throughout the apartment, with exception of the kitchen and bathroom, which offer durable vinyl flooring. These apartments are delivered unfurnished, offering a blank canvas for personalisation.

Do the apartments use gas or electricity?

Apartments are all electric and come complete with electric hobs, ovens and extractor fans.

Are the showers electric?

Rather than electric, the showers are powered by the mains water supply, ensuring a reliable pressure system delivering consistent flow rates.

Do the apartments come with a structural guarantee?

A 10-year warranty is provided by Advantage which provides the purchaser with valuable protection and peace of mind. This includes structural defects coverage for a period of 10 years from the completion date (in this case 2023). This 10-year Advantage warranty provides you with comprehensive protection against structural defects and ensures that your property is built to a high standard, compliant with regulations, and overseen by qualified professionals.

How do I qualify for Grove View?

To be eligible for Grove View’s shared ownership scheme you must:

• check if Central Bedfordshire Council is either your local council, or you have a local area connection
• ensure you are aged 55 or older
• maintain an annual household income of £80,000 or below
• possess only one property, following the acquisition of this new one

What is shared ownership?

The shared ownership scheme is run in conjunction with Homes England. They regulate shared ownership by overseeing properties within the portfolio. This allows you to acquire between 10% and 75% ownership of a retirement property—with no rent due on the remaining 25% if you own 75%. If you purchase less than 75% of the property's value through Shared Ownership, you will pay rent on the remaining share.

Will a financial review be needed?

You are required to have a financial assessment with a Financial Advisor to make sure you can afford the ongoing costs including potential future expenses. We will introduce you to an advisor who has experience with shared ownership schemes and can assess your eligibility although you are welcome to use your own Financial Advisor, if you prefer.

What will it cost upfront?

You should plan for some one-off costs associated with your purchase, including, but not limited to the following: Solicitors Fees and Stamp Duty Land Tax (SDLT). Your solicitor will be able to tell you if the tax applies and how much it will be, also Estate Agent fees if selling a current property and moving costs.

What ongoing costs do I need to consider?

You should plan for the following costs for your move into your new apartment: Rent for the share you haven’t bought, if applicable, Service Charges, other household costs that you will organise yourself, including council tax, TV licence, contents insurance, electric, broadband etc.

What percentage of the property do I have to purchase?

You can purchase from 10% and up to 75% of the property price. If you purchase less than 75%, there are options to increase this over time (known as staircasing). The rent is determined on the share percentage purchased, whereas the monthly Service Charges remain the same regardless of percentage purchased.

Can I sell my Shared Ownership property?

Yes, you are free to sell the share you own to another eligible person at any stage. The property must be sold as a Shared Ownership property and any incoming purchaser must fulfil the eligibility criteria. Our Home Ownership Team will be able to help you sell your property.

Can I purchase a parking space?

As a resident, you will be able to purchase an annual parking permit for the residential spaces.

What happens when I come to sell?

If you decide to sell, an independent valuation will need to be carried out by a RICS Surveyor, to set the selling price of the property. We will then have a period of eight weeks in which to find you a buyer from our waiting list of those who have registered their interest in Grove View.