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Conveniently located in Blakelaw in the west end of Newcastle, Quarry Place is a collection of brand new collection of two and three bedroom homes, with 34 available through shared ownership.
Ideal for first time buyers and families, our stylish new homes have a great range of local amenities right on the doorstep, from major supermarkets to well regarded local schools, and excellent transport links to make commuting a little easier.
The full market value of these homes is from £140,000 but with shared ownership you could purchase an initial 25% shared for just £35,000 and pay a monthly rent of the remaining share. This could mean your total monthly payments could be as low as £456. If you are buying with a mortgage you would only need a deposit of 5% of the amount you borrow, meaning your deposit could be as low as £1,750.*
Our homes at Quarry Place are conveniently located in a bustling local area with great transport links.
Set close to the A1 and A167, homes are ideally located for local commuting to nearby Newcastle and Gateshead, as well as traveling afield, both north and south. The area is also covered by several regular local bus services, and Kingston Park Metro station is less than three miles away.
There are several local convenience stores and major supermarkets nearby, and several homeware stores at the St James Retail Park. The area has a number of local primary and secondary schools, while those in higher education are within easy reach of the universities of Newcastle and Northumbria.
For even greater choice, Newcastle City Centre is less than four miles away, so you can easily enjoy everything the city has to offer, from great shopping and fantastic nightlife to family entertainment and leisure. You are also just five miles from Intu Metrocentre, where you’ll find major retailers and a range of eateries and entertainment.
About shared ownership
Shared ownership is a government-backed scheme that makes it easier for you to buy an affordable stake in a property.
The share you buy is dependent on your financial and personal circumstances. It can be from a minimum of 25% to a maximum of 75% share of the full market value of the property. You may be able to buy further shares at a later stage and in most instances you will be able to buy up to 100% of the shares in your home and own it outright. However, in some cases there may be restrictions on when you can buy a further share or on the maximum total share you can own.
Further information can be found in our shared ownership Buyer’s Guide.
Requirements for shared ownership
You qualify for shared ownership if you:
- Have a household income of under £80,000
- Don’t currently own your home and can’t afford to on the open market
- Can afford the minimum deposit
- Pass an affordability check to make sure you can get a mortgage
*This is based on an initial 25% share (£35,000) of a two bedroom house valued from £140,000 with a 5% mortgage deposit (£1,750). The estimated monthly service charge is approximately £40.
Photos and CGIs are for illustrative purposes only and may feature previous developments.