12 Oak Fold, Crosthwaite
Crosthwaite Kendal Cumbria LA8 8HU
Description: The bungalow is available for sale by Castles and Coasts Housing Association by way of a shared ownership scheme. To put it simply the purchaser must use the property as their main or principal residence, be 55 or over, satisfy the qualifying criteria for the occupancy restriction and the financial equability check. Once these are satisfied then either 25, 50 or a maximum of 75% of the property can be purchased. If 25 or 50% is purchased then a rent is payable to Castles and Coasts for the portion not purchased, however if the maximum of 75% is purchased then no rent is payable. There is also a service charge payable and is £61.64 per month for 2018/19 (as explained below). Each bungalow is therefore available at:-
25% - £56,250 plus monthly rent of £386.71.
50% - £112,500 plus monthly rent of £257.81.
75% - £168,750, no monthly rent.
Set in a small private cul de sac and built on behalf of Castles and Coasts Housing Association by local house builders Russell Armer.
No.12 is a semi detached 2 bedroomed bungalow and is one of 13 properties. Houses 1,2 and 6 are for sale subject to a local occupancy condition, 3,4,5 and 7 are available by the way of a rent to buy scheme. (The properties are rented at 80% of rent for a minimum of 5 years and then available to buy thereafter - See Hackney & Leigh letting department for more details). Nos. 8 & 9 are 2 bedroomed and available to rent through Castles and Coasts Housing Association and 10,11,12 & 13 are 2 bedroomed semi detached bungalows available for the over 55's on a shared ownership basis of 25, 50 or 75% available to buy with the remainder owned by Castles and Coasts Housing Association.
The properties are all held on a new 125 year lease. It is not the intention for Castles and Coasts Housing Association to profit in any way by this arrangement. It has been set up to be able to share the running costs for some communal elements of the site.
These include grounds maintenance, Klargester service and maintenance (private shared drainage system), servicing and standing charge connections for the ground source heat pump heating system, building insurance and a small administration charge to oversee it. It is estimated that this will be approx. £61.64 per month or £739.68 pa in the first year.
This property is for sale through Hackney & Leigh Estate Agents. More details here: