How to apply for an apartment in Grove View

Ten two-bedroom apartments are available at Grove View to purchase on a shared ownership basis.

What is shared ownership?

The option to purchase a proportion of an apartment is being made available via a shared ownership scheme.

Once assessed by an independent financial advisor, customers may be eligible for 10% to 75% ownership, with no rent payable above 75% ownership. Outright ownership of a property is not possible.

How much do the apartments cost?

Prices are correct as of February 2024.

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

A monthly service charge will be applicable and is not affected by share purchase.

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 is payable on a 75% share. The apartments have received a Council Tax valuation of Band A.

Please note:

• shared ownership prices and rental costs are subject to periodical re-evaluation and could increase
• service charges and associated costs are estimated and could be subject to change
• some costs and charges may be eligible for Housing Benefits
• it is important to remember that in addition to these accommodation costs, you are responsible for providing for your day-to-day living needs e.g. Council Tax, food, personal items, electricity, water rates, telephone, TV etc.

Step 1: Check you're eligible

To qualify for our shared ownership apartments, you must meet the Older Person Shared Ownership scheme's criteria:

• be aged over 55
• have an annual household income of no more than £80,000
• have the ability to secure a mortgage or have sufficient savings to pay the share in full, if retired
• you will need to sell any existing property owned before buying through the Older Person Shared Ownership scheme
• any first-time buyers or buyers who previously owned property, but can't afford to buy property in a privately-run independent living scheme are eligible to apply
• all outstanding credit issues such as county court judgements or unsatisfied defaults must be cleared

Step 2: Apply for a shared ownership apartment

Looking to apply for a Shared Ownership apartment? Get in touch with our Home Ownership Team for an application form.

For any questions relating to Grove View or the shared ownership scheme, please contact us at 0300 300 6144 or email home.ownership@centralbedfordshire.gov.uk.

When you can visit?

Once your application has been assessed and you have received confirmation that you are eligible to purchase an apartment you will be contacted and arrangements made for you to visit your prospective new home.