AFFORDABLE HOME OWNERSHIP Gatewen Village, Gatewen Road, New Broughton, Wrexham, LL11 6UY

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1 AFFORDABLE HOME OWNERSHIP Gatewen Village, Gatewen Road, New Broughton, Wrexham, LL11 6UY In partnership with Wrexham County Borough Council we are pleased to inform you of the release of further affordable properties at the above site which comprise of two, 2 bedroom mid terrace houses, and one 1 bedroom coach house from Bloor Homes which are anticipated to be completed in May To be Nominated as a Qualifying Person, for the purchase of the affordable units, you must have a local connection, and must not be able to afford to acquire a home suitable for your needs, and the needs of your household at normal market values, and if an owner occupier, not have any further interest in the property owned. Properties available are:- Plots 175 and 175 Two bedroom mid terrace house, separate kitchen, spacious living/dining area with French doors to garden, cloaks & up/downstairs storage, two double bedrooms and family bathroom. Plot 177 Split level coach house with generous downstairs bathroom and two ample storage cupboards, feature kite winder staircase to upstairs lounge, kitchen/breakfast room and double bedroom. One parking space per plot. Plot Market Value 85% Affordable price 175 and , , ,950 84, Please visit Grŵp Cynefin and Bloor Homes website for property specification, floor plan and site plan All properties are Freehold. The above plots are being sold on a shared equity basis 84/15%. The 15% notional equity is secured as a second charge in favour of Grŵp Cynefin. There is no monthly rent or interest payable on the 15%. On resale to a Qualifying Person who is nominated by Grŵp Cynefin, the nominated person will be required to enter into a second legal charge, for the 15% equity, simultaneously with the purchase of the property. You may repay the 15% equity share at any time, but does become repayable on resale. In the event of no Nominations, and when the property is eventually sold on the open market, you will be required to pay to Grŵp Cynefin a sum equal to 15% of the market

2 value of your property (equity), which will be recycled in affordable housing provision in the County of Wrexham. Mortgage and Deposit You must be able to access a mortgage and minimum deposit of 5% of purchase price. Your mortgage must be repayment mortgage. Prior to making an application for these properties, we would be grateful if you could contact a mortgage lender/mortgage consultant to make enquiries whether or not you are likely to be eligible for a mortgage. If you have a poor credit history you might not qualify for a mortgage Bloor Homes have a link to Independent Financial Advisor - 75point info@75point3.co.uk Fees Please ensure that you have sufficient savings to meet legal fees, mortgage valuation fee and any other fees/costs relating to a mortgage application. You should generally allow at least 2,000 to cover these fees. In addition you will be required to pay Stamp Duty Land Tax (SDLT). No tax will be paid on the first 125,000 of the purchase price, and then you will pay 2% on the proportion between 125,000 to 250,000. For example, on a house bought for 150,000, you will pay 500 in SDLT. Properties situated in an area designated by the Government as disadvantaged may be exempt from (SDLT). Please visit for further information Service Charge Estate Charge of 155 pa is payable in respect of estate management and is payable to the Management Company namely Meadfleet. Local Residency criteria- Qualifying Persons will be considered in date order registered on the Wrexham Affordable Home Ownership register, and must meet the Local Residency criteria as noted below:- PRIORITY 1 for the period 10 November 2014 to 7 December 2014 Has resided personally or has a *close family association in the Broughton Community area for a continuous period of 1 year immediately preceding the proposed occupation of the property OR Is in permanent full time employment amounting to not less than 30 hours pw, situated in the Broughton Community area and has been in such employment for a period of 6 months immediately preceding the occupation of the property OR Has previously resided and has a *close family association in the Broughton Community area or been in continuous full time employment as described above for a continuous period of 5 years. *Close Family Association: parents, brother, sister, children, grandparents, step brother/sister/parent/children

3 PRIORITY 2 for the period 8 December January 2015 If no qualifying person can be identified as noted in Priority (a), the requirement of residency and employment is extended to include Community Council areas of Gwersyllt, Brymbo,Coedpoeth and Offa PRIORITY 3 for the period 12 January February 2015 If no qualifying person can be identified as noted in Priority 1 and 2, the requirement of residence and employment is extended to include Wrexham County Borough Council area Wrexham Town Wards of Acton, Borras Park, Erddig, Garden Village, Hermitage, Little Acton, Maesydre, Queensway, Rhosnesni, Smithfield, Stannsty, Whitegate and Wynnstay PRIORITY 4 from 9 February 2015 If no qualifying person can be identified as noted in Priority, 1, 2 or 3 then any other person who is in need of Affordable Housing shall be treated as a Qualifying Person. Interested? In the first instance please contact us within 7 days of receiving communication from us to register your interest, and contact Bloor Homes on Telephone: GatewenVillage@bloorhomes.com) Sales office open: daily 10.00am 5.00pm to view the properties/obtain further information. Reservation Fee to Developer Bloor Homes requires a reservation fee of 350 Please do not reserve your plot until Grŵp Cynefin has provided you with a letter to confirm eligibility. If you wish to apply, what do you need to provide us with? In order that we may carry out an affordability and residency check, please provide information requested below no later than within 7 days of Registering an interest. Please note: If you are late in providing documents/further information within the prescribed time limit, it is possible that you could lose your place, and as a result will then be considered in the next Priority category. The same will apply if the Local Residency criterion has been opened out and you then register an interest, regretfully we will only be able to consider you from the date you register interest. Proof of earnings (if paid monthly copies of last 3 payslips, if paid weekly copies of last 12 payslips) for yourself and your partner (if applicable). If on a Zero Hours contract, please provide details of income earned over the last 12 calendar months. Copy of P60 dated April 2013 and April 2014 If self employed, certified s/e accounts or Inland Revenue tax assessment on Certificate SA302 is required for the last 3 years. Copies of bank statement for last 3 months for every account that you and your partner (if applicable) have. Proof of any other income, e.g. Working Tax Credit, please provide full entitlement letter Private Pension. Proof of savings e.g. Tessa, ISA, Bonds, shares etc.

4 Confirmation from a bank / building society confirming the maximum mortgage available to you and your partner (if applicable) and a copy of a quotation from the mortgage provider detailing the monthly repayments. Copy of any loan, finance/hire purchase agreements that you and your partner (if applicable) are currently repaying. Latest credit/store card or catalogue statement. If paying child care charges please provide evidence. Proof of at least 5% deposit. If friends/family are providing the deposit, we require a letter from them confirming the amount they will be providing Details of how you will pay the fees involved with buying a house. If family or friends are going to assist you with these costs, please can they provide a letter to confirm this? Proof of local connection for one applicant - please provide a bank statement, P60, loan agreement letter, tenancy agreement, or a letter from the Register of Electors department of Wrexham County Borough Council confirming your address, or letter from employer confirming employment for the last 1 months/years. If the local connection is close family, please provide confirmation of their address for the last 1 year or 5 years as per residency criteria above. Proof of I.D Birth certificate, Passport. If your application is approved, what is the next step? If you are eligible for the above development, both financially and as per the residency conditions, you will be given a letter to hand to the developer. At that point you can proceed to reserve your plot and make an application for a mortgage and instruct solicitors. You will be required to sign a Legal Charge which is a Legal document that secures the 15% equity. Your solicitor will explain the process to you. CONDITIONS APPLICABLE AFTER PURCHASING RE- SALE PROCEDURE When you decide to sell the property, you must inform Grŵp Cynefin of your desire to sell. We will endeavour to nominate a Qualifying Person(s) who are registered on Wrexham County Council Affordable Home Ownership Register, if after a specific time - Nomination Period of 16 weeks, and the property has been actively marketed for sale by the shared equity owner, and it is found that there is no Qualifying Person(s) who wishes to purchase, you would then be free to sell the property on the open market but paying Grŵp Cynefin a sum equivalent to 15% of the market value at that time, but first discharging the first mortgage. Shared equity owner must be able to demonstrate to Grŵp Cynefin that all reasonable offers have been considered in good faith from Qualifying Persons. To confirm the market value, Grŵp Cynefin will require a valuation report as certified by a professionally qualified Surveyor who is a member of the Royal Institute of Chartered Surveyors (RICS). The valuation must be from an independent source, i.e. not someone who is either involved with marketing or the sale of the property, or someone representing the seller or purchaser of the property. If an agreement cannot be reached between you and Grŵp Cynefin on the disposal value, it shall be ascertained by an independent qualified valuer nominated/appointed by

5 agreement between the parties, or failing agreement by or on behalf of the president for the time being of the Royal Institution of Chartered Surveyors on the applications of either party and the decision of such valuer shall be final. You will be responsible for the cost. Valuation is valid for 3 months, if sale has not been completed within this period, the original valuer will be required to provide a letter to extend the valuation. Nomination If Grŵp Cynefin does nominate a Qualifying Person(s) for your property, you must sell the property to the nominated person at market value, or higher; the nominated person will be required to enter into a second legal charge, for the 15% notional equity, simultaneously with the purchase of the property. A sum equal to 85% of the market value will be paid to you. We may make more than one nomination and you should consider the nominations in date order registered on Wrexham Council s Affordable Home Ownership register, but we assume that you would sell to the nomination who offers you the highest price. Conditions of resale are noted in S106 planning Agreement. Administration Charge On sale of the affordable property the Owners shall pay to Grŵp Cynefin a sum equivalent to 0.50% of the market value of the percentage share purchased by the nominee on completion of that sale. This is to cover the costs of the nominated housing association ( Grŵp Cynefin) in administrating the Wrexham Low Cost Home Ownership Register, and the administrative costs in assessing and nominating a Qualifying Person(s). Please do not hesitate to contact me if you have any queries, by telephoning the office or calling in. I look forward to hearing from you. Yours sincerely Affordable Homes Team affordablehomes@grwpcynefin.org 54 Stryd y Dyffryn Dinbych LL16 3BW