£3,000 deposit. This will be refunded back to you (in full) on the date that you purchase the property in extra care.
Savings to cover legal fees. The amount will depend upon the percentage of the property that you purchase. As a guide, these fees are calculated at 0.75% of the portion of the property being purchased.
If you purchase a Partial Ownership property, you do not need to go to court, but you will need to appoint an advocate.
Following the purchase of your property in Extra Care, you need to pay the following each month:
Discounted rent to GHA
A service charge payable to GHA (this covers items such as building insurance, maintenance and cleaning of communal areas, heating, water and electricity).
You are responsible for paying:
A service charge which includes your water, electric, parish rates, annual waste charge and communal charges etc.
Maintenance – partial owners are responsible for all maintenance costs on their home.