Greatwell Homes are pleased to offer this newly built 2 bed semi detached house on the Milner Road, Finedon Development.
Accommodation comprises of Entrance Hall, Lounge/Diner, Kitchen, WC on the ground floor. Two double bedrooms, family bathroom and storage located on the first floor. Please note these properties are unfurnished, flooring is only provided in the kitchen, downstairs WC and bathroom.
What is Rent to Buy?
Rent to Buy homes are new build properties which are let to working households who are looking to buy a home but have been unable to save for a deposit. These homes will be let at an intermediate rent (80% of market rent value) on a 6 month renewable Assured Shorthold Tenancy, for a minimum period of 5 years, providing the opportunity for customers to save for a deposit to buy.
What is the Criteria?
Applicants will need to meet the following criteria
• You must be working - Household Income of £38,000 plus (after tax)
• You must have enough income to pay for your rent and bills whilst saving for a deposit
• You will need to be able to get a mortgage at the end of the term
• Minimum household of 1 person, maximum 4 persons
• Have lived in the local area for at least 3 of the last 5 years
• Have a permanent job in the local area for more than 16 hours per week (for at least 3 months)
• Have a good credit history
• Meet the Right to Rent criteria
• Proof of acceptance for Help to Buy
Applicants may be rejected where:
• The applicant's income is insufficient to be able to afford the rent.
• The applicant has debts or other circumstances that indicate that they are not able to save for a deposit within a reasonable period.
• The applicant would be unable to obtain a mortgage at the end of the Agreed Period.
• The applicant has rent or mortgage arrears
• Would normally be rejected due to Greatwell Homes polices
• Those from members of the British Armed Forces which will be be prioritised for Rent to Buy schemes according to the current guidance.
• Where conditions within the planning consent apply e.g. highest priority given to local people living within the community where the homes have been constructed.
How do I Apply?
Please Register your interest now. After we have received your registration, we will email you further instructions on how to submit an application. Closing dates for completed applications by 5pm on Monday 7th June 2021.
If you need to contact us, please email us at firstname.lastname@example.org.
All photographs are provided for guidance only.
The following are permitted payments which we may request from you:
a) The rent
b) A refundable tenancy deposit (reserved for any damages or defaults on the part of the tenant) capped at no more than five weeks' rent where the annual rent is less than £50,000, or six weeks' rent where the total annual rent is £50,000 or above
c) A refundable holding deposit (to reserve a property) capped at no more than one week's rent
d) Payments to change the tenancy when requested by the tenant, capped at £50, or reasonable costs incurred if higher
e) Payments associated with early termination of the tenancy, when requested by the tenant
f) Payments in respect of utilities, communication services, TV licence and council tax; and
g) A default fee for late payment of rent and replacement of a lost key/security device, where required under a tenancy agreement
Please call us if you wish to discuss this further.