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Walton Meadow
Youngman Lovell is excited to present Walton Meadow, our new development of 10 Self or Custom build plots in Wellesbourne, Warwickshire.
Each building within the development will be designed by plot purchasers, therefore contributing to making a unique place.
- No VAT on building costs
- No CIL applicable
- Reduced Stamp Duty
- Full autonomy over design
* All items subject to contract
For your chance to build your dream home, please contact:
wellesbourne@connells.co.uk
01789 841535
newhomes@sheldonbosleyknight.co.uk
01789 333466
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Do I comply with the Local Connections?The Plots are available for the first twelve weeks to only those who have a Local Connection to the area. A person will benefit from a Local Connection if he/she satisfies any one or more of the following criteria:
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Can I make internal configuration changes to a design I pick?Yes, your house is fully customisable.
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How much will the foundations cost?The price of foundations typically depends on the final house design and size. We would factor in £35,000 to your budget.
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What stages do I make payments?1) £1,000 reservation fee (refundable subject to contract); 2) Plot purchaser submits outline of desired design to check it complies with the design code 3) Finance check (this will be run simultaneously with the above); 4) Once finance checks are approved then a £4,000 deposit is due. If you are unsuccessful in gaining planning, you can re-submit. If for any reason at this point you want to withdraw, you would be refunded minus costs; 5) Once planning is granted, a 10% stakeholder's deposit is due on the Plot value, which is to be held with our Solicitor until Youngman Lovell delivers your foundations; 6) On delivery of your foundations, we exchange and complete the plot.
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Why is there savings on VAT?There are various incentives for self & custom builders; one of them is that it’s VAT exempt.
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How long will it take to build my house?This will depend on how long it will take you to finalise your design, however, once this is complete and the foundations are built, we allow eight to ten weeks for the house to be built and delivered.
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How much is the reservation fee?£1,000 reservation fee (refundable subject to contract) When finance checks are approved then a £4,000 deposit is required. If you are unsuccessful in gaining planning, you can re-submit but if you want to withdraw, you will be refunded minus planning permission costs.
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What is Golden Brick?Golden Brick is a mechanism which allows a developer of a new-build residential property to sell a partly-constructed building without having to apply VAT to the land price.
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What is the reservation /sales process?1) £1,000 reservation fee (refundable subject to contract); 2) Plot purchaser submits outline of desired design to check it complies with the design code 3) Finance check (this will be run simultaneously with the above); 4) Once finance checks are approved then a £4,000 deposit is due. If you are unsuccessful in gaining planning, you can re-submit. If for any reason at this point you want to withdraw, you would be refunded minus costs; 5) Once planning is granted, a 10% stakeholder's deposit is due on the Plot value, which is to be held with our Solicitor until Youngman Lovell delivers your foundations; 6) On delivery of your foundations, we exchange and complete the plot.
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How do we connect the utilities up the house? Who does this?The groundworks contractor will be able to factor this into their works when installing the foundations.
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What is CIL and how can I save on it?CIL is defined as Community Infrastructure Levy (CIL), which is a local Tax. Self-build projects often qualify for CIL exemptions. This includes homes built or commissioned by individuals for their own use, rather than for sale.
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Tell me the pros/ cons of building my own home?Is it worth exploring? - You want to design and build your own home (you can also choose a set house type and customise all finishes, fixtures, fittings & sanitaryware!); - You want to have financial control on where your money is going in your design; - You’re willing to take the time to design and build the perfect the perfect home; - You have the option to incorporate the latest renewable technologies for a sustainable and cost-effective home. Is it not worth exploring? - You may prefer to have a house builder choose your house design & the way you live; - You may prefer to let the house builder choose the specification & finish of your house (which may incur further costs down the line!); - You want to move in ASAP; - The location may not be suitable for your requirements.
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Can I get a mortgage?Yes, we have partnered with Build Store (https://www.buildstore.co.uk) who provide > 90% of Self and Custom Build Mortgages for the U.K. housing market.
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Who deals with the planning process?Youngman Lovell will introduce you to their designated Planning Consultant to go through your Reserve Matters application.
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Who owns the communal land?The open space is owned and managed by a third party to ensure maintenance is kept on top of but you and your family have full access to the land to use at your leisure.
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Who is the house builder?We will introduce you to our approved partner to facilitate this. They also build Youngman Lovell’s house designs, as well as offering fully customisable options. They build circa 1,500 homes every year throughout U.K. & Europe and are a PLC.
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Why is there a saving on Stamp Duty?Stamp duty is calculated as a percentage of the plot purchase price, rather than the value of the house. Therefore, buying a plot can offer over a 50% saving on Stamp Duty.
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