Share Price £99,000 (from 75% Min. Share)

Full Value £132,000 | £4,950 Min. Deposit

Scheme: Over 55's Shared Ownership

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2 bedroom house in South Shields - South Tyneside

place REYNOLDS AVENUE, NE34 8PB

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Home Group Resales

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2 bed link-detached bungalow- no onward chain!


Eligibility

Applicants must have sufficient funds to either purchase the 75% share outright, or to obtain a mortgage.

Applicants must also have access to sufficient funds to cover the cost of buying.

If you will be purchasing with a mortgage you must provide us with an Agreement in Principle (AIP) to support your application. Evidence in support of your AIP (or proof of funds if cash buyers) must also be provided. Further details available on request.

Current homeowners: Anyone who currently owns a home must have a sale agreed to apply.

Age requirements: Applicants must be aged 55 and over.


Description

***Please quote REY4101 when enquiring.***

- Introduction -

This 2 bed bungalow for the over 55s is perfectly placed in South Shields. With no onward chain and set in a quiet cul-de-sac with no passing traffic, your new home offers everything you need and more right on your doorstep. What are you waiting for?

 

- What the owner says -

“Quiet, over 55s residential area. Link detached bungalow with spacious gardens on a corner plot.”

 

- Full description –

Properties at Reynolds Avenue are available as part of an affordable home ownership scheme, where the buyer only pays 75% of the open market value. The 25% share not purchased is a 'payment discount' which is locked into the property and passed on to future buyers. Owners do not pay any rent to Home Group on the percentage not purchased but they must pay a service charge as detailed below.

 

Two-bed link detached bungalow.

Entrance hallway has an alarm for your security and peace of mind.

Living room (3.89m x 3.68m) benefits from French doors opening into the private rear garden.

Kitchen (3.96m x 2.41m) has white goods comprising of a fridge/freezer, electric cooker and a washing machine.

Master bedroom (3.48m x 2.96m) with a window to the rear aspect.

Second bedroom (3.29m x 2.11m) has a window to the front aspect.

Bathroom (2.02m x 1.97m) with a bath and overhead shower.

Carpets are fitted to the living areas. Vinyl is laid in the bathroom and kitchen.

Gas central heating.

Private rear garden, lawned, with a patio area for seating.

Driveway and garage available for parking.

 

- Costs –

PRICE - £99,000*

NO RENT PAYABLE

SERVICE CHARGE - £823.80pa**

*This represents a 75% share of the full open market value of £132,000

**This includes: management charge, service charge, building insurance and sinking fund. Rent and service charges are reviewed annually.

 

- General Information -

Tenure: Leasehold

Lease: 125 years from 1 January 2000

Years remaining on lease: 105 approx.

Approximate internal area: 53 sq. m.

Local authority: South Tyneside Council

Council tax band: B

EPC rating: D (65)

 

- Terms, conditions and requirements -

Applicants must have sufficient funds to either purchase the 75% share outright, or to obtain a mortgage.

Applicants must also have access to sufficient funds to cover the cost of buying.

If you will be purchasing with a mortgage you must provide us with an Agreement in Principle (AIP) to support your application. Evidence in support of your AIP (or proof of funds if cash buyers) must also be provided. Further details available on request.

Current homeowners: Anyone who currently owns a home must have a sale agreed to apply.

Age requirements: Applicants must be aged 55 and over.


- Viewings -

In addition to the financial assessment, a virtual tour is required before any physical viewing can take place.

Virtual and physical viewings are held strictly by appointment - call today for more information.

Only those who have physically viewed the property are able to apply. If you have viewed and would like to apply please register your interest with the Resales Team.


Key Features

  • *£99,000 for a 75% share*
  • 75% share available under the Over 55s scheme
  • No onward chain
  • Private rear garden
  • Driveway and garage
  • Walking distance to local shops and public transport
  • The Nook and Temple Park are 2 miles away
  • Only a short drive to the idyllic Marsden beach
  • Only 3 miles to South Shields town centre

Download Documents

Energy Certificate
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Home Group Resales

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Location

Disclaimer

The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

  • Rent: this is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes)
  • Service Charge: covers maintenance costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.


NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.