Frequently Asked Questions
When will the houses be completed?
The house should be completed in early August 2014 (subject to weather conditions) and should be ready for occupation from end of August onwards.
What rent do I need to pay?
Please see the rent costs on the price list
The rent is just 40% of 'affordable rent' plus 1% above the consumer price index.
What is the minimum deposit on the mortgages?
That depends on the mortgage provider, they have different requirements but we require people to put down a minimum deposit of 5 %.
How does the application process work? Is it a ‘First-Come-First-Served’ System?
Bournemouth 2026 Trust will use its allocation policy which is approved by Bournemouth Borough Council. See the 'Do I Qualify?' section of the website
Can I increase my share of the property?
You can potentially increase your mortgage if you would like to purchase more share in your property up to a maximum of 80 %. Your mortgage provide will require another property valuation and you will also be reassessed on your ability to cope with increased mortgage payments.
Can I repay the mortgage early and are there penalties for overpaying?
That would be an issue to raise with your mortgage provider.
Can I sub-let my home?
No – the properties offered are available to help people afford homeownership. The property must be your main residence.
Can I extend or alter the property?
The lease prevents structural alterations to the property, but Bournemouth 2026 Trust could in some circumstances agree a deed of variation to the lease to enable alterations to the property.
How is Gladstone Mews different?
- It has an communal orchard and growing spaces
- Built to high sustainability standards eg Solar PV panels installed
- Fire sprinkler installed to ensure safety of residents
- 'Old School House By The Sea' hub for creative businesses and activity room
- Rapid electric car charging point on site
- Co-wheels Club electric card on site for hire
- We are encouraging a community with strong community and ecological values
No, unfortunately the council do not offer mortgages on a shared ownership basis.