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 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.