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.
The offer of a property is subject to a general affordability and well-being 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.
Schedule of prices and estimated costs and charges
| Share purchase | 25% | 50% | 75% |
|---|---|---|---|
| 1-bedroom apartment | From £58,000 | From £116,000 | From £174,000 |
| 2-bedroom apartment | From £70,000 | From £140,000 | From £210,000 |
| Apartment | Charge |
|---|---|
| 1-bedroom apartment | From £960 per calendar month |
| 2-bedroom apartment | From £1,168 per calendar month |
| Charge | Type 1 | Type 2 | Type 3 | Type 4 |
|---|---|---|---|---|
| Affordable rent | £960 | £984 | £976 | £964 |
| Domestic heating recharged based on actual usage | £100.76 | £100.76 | £100.76 | £100.76 |
| Independent living care charge | £73.67 | £73.67 | £73.67 | £73.67 |
| Community alarm | £20.37 | £20.37 | £20.37 | £20.37 |
| Monthly total | £1,154.80 | £1,178.80 | £1,170.80 | £1,158.80 |
| Charge | Type 1 | Type 2 |
|---|---|---|
| Affordable rent | £1,168 | £1,192 |
| Domestic heating recharged based on actual usage | £56.92 | £56.92 |
| Independent living care charge | £73.67 | £73.67 |
| Community alarm | £21.67 | £21.67 |
| Monthly total | £1,3620.26 | £1,344.26 |
| Charge | 25% | 50% | 75% |
|---|---|---|---|
| Services charges (communal heating, lighting, cleaning etc.) | £277.01 | £277.01 | £277.01 |
| Domestic heating recharged based on actual usage | £56.92 | £56.92 | £56.92 |
| Independent living care charge | £73.67 | £73.67 | £73.67 |
| Community alarm | £21.67 | £21.67 | £21.67 |
| Reserve Fund contribution | £233.94 | £233.94 | £233.94 |
| Building insurance | £2.78 | £2.78 | £2.78 |
| Rent | £398.75 | £265.83 | 0 |
| Monthly total | £1,1064.74 | £931.82 | £665.99 |
| Charge | 25% | 50% | 75% |
|---|---|---|---|
| Services charges (communal heating, lighting, cleaning etc.) | £277.01 | £277.01 | £277.01 |
| Domestic heating recharged based on actual usage | £56.92 | £56.92 | £56.92 |
| Independent living care charge | £73.67 | £73.67 | £73.67 |
| Community alarm | £21.67 | £21.67 | £21.67 |
| Reserve Fund contribution | £233.94 | £233.94 | £233.94 |
| Building insurance | £2.78 | £2.78 | £2.78 |
| Rent | £481.25 | £320.83 | 0 |
| Monthly total | £1,147.24 | £986.82 | £665.99 |
Prices are correct as of 1 April 2024.
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 and personal items/electricity/telephone / TV etc.
Care charges
Costs relating to care vary from customer to customer. The amount you pay will depend on your needs and your financial situation. Please contact us if you wish to discuss your requirements in more detail.
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.
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 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 toward this fund in their service charge. The reserve fund is inclusive for affordable renters as part of their monthly rent payments.
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.