Service charges, estimated costs and accommodation charges for All Saints View

Residential living prices for All Saints View in Houghton Regis

The Older Persons' Shared Ownership scheme provides the opportunity to purchase an apartment at All Saints View. Once assessed by an independent financial advisor, customers may be eligible to purchase between 25% and a maximum of 75% equity (or ownership) of an apartment. Shared owners can buy more equity shares in the property after they have taken ownership. This is known as "staircasing", but 75% is the maximum level of equity to own.

Rent is payable on the share of the property that you do not own and chargeable at 2.75% of the unsold equity. However, there will be no rent payable if you purchase a 75% share, as this is the maximum you can own. The leases on all apartments will be 125 years.

As well as the cost of the apartment, you will also need to pay conveyancing fees, stamp duty and any costs associated with a mortgage, where applicable. The example costs shown below relate to the smallest for each bedroom type, based on independent valuations.

Prices correct as of August 2021.

Shared ownership prices in pounds
Share purchase Apartment size range 25% 50% 75%
1-bedroom apartment 53 square metres to 68 square metres From £53,750 From £107,500 From £161,250
2-bedroom apartment 66 square metres to 78 square metres From £63,750 From £127,500 From £191,250

Prices and rents are size dependent and comparable to current market prices.

Percentage share (25% to 75%) of purchase price will be determined on application dependent on income and circumstances.

Affordable rent charges in pounds
Apartment type Apartment size range Affordable rental figures
1-bedroom apartment 53 square metres to 68 square metres From £824 to £848 per calendar month
2-bedroom apartment 66 square metres to 78 square metres From £1,016 to £1,064 per calendar month

Prices and rents are size dependent. Affordable equates to 80% of market rents.

The offer of a property is subject to a general affordability and wellbeing assessment, which will be arranged during the application process. If you are in receipt of further financial assistance such as housing benefit, pension credit or income support, this could help with reducing the living costs.

1-bedroom apartment estimated affordable rent costs (in pounds per month)
1-bedroom apartment Apartment type 1 Apartment type 2 Apartment type 3 Apartment type 4
Affordable rent £824 £828 £840 £848
Domestic water and heating recharges based on estimates £43.01 £43.01 £43.01 £43.01
Independent living care charge £73.67 £73.67 £73.67 £73.67
Community alarm £19.07 £19.07 £19.07 £19.07
Monthly total £959.75 £963.75 £975.75 £975.75
2-bedroom apartment estimated affordable rent costs (in pounds per month)
2-bedroom apartment Apartment type 1 Apartment type 2
Affordable rent £1,016 £1,040
Domestic water and heating recharges based on estimates £43.01 £43.01
Independent living care charge £73.67 £73.67
Community alarm £19.07 £19.07
Monthly total £1,151.75 £1,199.75
Estimated shared ownership costs: 1-bedroom apartment (in pounds per month)
1-bedroom apartment 25% shared ownership 50% shared ownership 75% shared ownership
Service charges (communal heating, lighting, cleaning etc) £156.87 £156.87 £156.87
Domestic water and heating recharged based on estimates £43.01 £43.01 £43.01
Independent living care charge £73.67 £73.67 £73.67
Community alarm £19.07 £19.07 £19.07
Reserve fund contribution £190.78 £190.78 £190.78
Building insurance £3.06 £3.06 £3.06
Rent (2.75% of unsold equity) £369.53 £246.35 No charge
Monthly total £855.99 £732.81 £486.46
Estimated shared ownership costs: 2-bedroom apartment (in pounds per month)
2-bedroom apartment 25% shared ownership 50% shared ownership 75% shared ownership
Service charges (communal heating, lighting, cleaning etc) £156.87 £156.87 £156.87
Domestic water and heating recharged based on estimates £43.01 £43.01 £43.01
Independent living care charge £73.67 £73.67 £73.67
Community alarm £19.07 £19.07 £19.07
Reserve fund contribution £190.78 £190.78 £190.78
Building insurance £3.06 £3.06 £3.06
Rent £438.28 £292.19 No charge
Monthly total £924.74 £778.65 £486.46

The offer of a property is subject to a general affordability and wellbeing assessment, which will be arranged during the application process. Likewise, the cost of living at All Saints View and any concessions or financial support available in relation to taking on a lease or tenancy will be made clear to you before you make any firm commitment.

Personal care costs

Each person who needs regular care and/or support will have their needs assessed and the amount agreed with them. The amount that each person pays towards the cost of this care will be dependent on their financial circumstances.

Find out more about personal care at All Saints View.

Questions and answers

What is a service charge?

A service charge is a payment made by all residents towards the management and upkeep of the building. This includes costs incurred for cleaning of communal areas, gardening, lighting, fire alarms, building insurance, repairs and maintenance to the building etc. Service charges and associated costs are estimated and could be subject to change and some may be covered by housing benefit.

What is a reserve fund?

A reserve fund (sometimes called a sinking fund or a maintenance fund) is a fund held by the landlord of the building to cover the costs of major works. Shared owners will pay towards this fund in their service charge. The reserve fund is inclusive for affordable renters as part of their monthly rent payment.

Are there other domestic costs to living at All Saints View?

Yes, other costs include Council Tax, contents insurance, utility bills, telephone, internet, television subscription etc.

What is the independent living care charge?

The independent living care charge is payable by all residents of All Saints View. This charge helps ensure that there is care available at all times to anyone who needs it, whether that is on a regular basis or in an emergency.

How does the community alarm work?

There are many types of technology and equipment available to help you remain living safely, comfortably, and independently in your home. These can range from activity monitors and medication reminders, to personal alarms and much more. This works through the installation of a range of different sensors in your home via a control box to a monitoring centre that is there to help 24 hours a day, seven days a week.