Share Price £65,000 (from 50% Min. Share)

Full Value £130,000 | £3,250 Min. Deposit

Scheme: Shared Ownership Resales

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3 bedroom house in Dunston - Gateshead

place Cormorant Drive, Riverside Park, NE11 9LF

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Home Group Resales

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Start your journey with this three-bed mid-terrace home in Gateshead!


Eligibility

Minimum household income requirement: £19,985^

Application process: A financial assessment must be completed before any physical viewing can take place. This forms part of Home Group’s buyer approval process. These assessments are carried out remotely by Metro Finance. Once you have confirmed an interest in purchasing a property, the contact details will be made available.

We will not carry out any credit checks or contact any reference agencies without your written consent.

Help to Buy Agent: In order to apply you must be registered with Help to Buy North https://www.helptobuyagent1.org.uk/apply/ You will need to provide your HTB reference when completing the application process.

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


Description

***Please quote COR614 when enquiring.***

- Introduction -

Always dreamed of owning your home? With easy access to Newcastle City Centre, an abundance of local amenities and the gorgeous Quayside only a stone’s throw away; why not say yes to this three-bed home?

- What the owner says -

It is on a quiet cul-de-sac near to local amenities such as a pub, café, shops, takeaways and gyms. Close to a good bus link to Metro Centre, Gateshead and Newcastle. The property is well situated for access to the A1, Gateshead and Newcastle. It is a lovely walk along riverside to Gateshead and Newcastle Quayside passing impressive Dunston Staiths a historic landmark where food markets are held in summer. It has partial river views to one bedroom. It is a 6 minute walk from a primary school and 25 minutes walk from a secondary and there is a children's play area on estate. There are various cycle routes you can do from house.

It is easy to maintain and economical for utility bills, the sitting has a large window that lets in lots of natural light and the other rooms are light and bright with neutral decoration. I like being able to eat in kitchen that leads to a conservatory which is a nice place to sit and relax. I like that the back garden has high fences so is private.

- Full description –

Shared ownership is a government backed scheme that can be a stepping stone to completely owning your own home. If you’re finding it difficult to save for a deposit this is a great option as the amount you’ll need is based on the share you’re buying.

Three-bed mid-terrace house

Living room (5.1m x3.8m) has a fireplace and window to the front aspect.

Kitchen/diner (2.74m x 4.85m) has built-in units, extractor fan and doors leading to the conservatory and garden.

Master bedroom (3m x 4m) is a double with window to rear aspect.

Second bedroom (3m x 3.8m) is a double and third bedroom is a single (2.65m x 2.35m) with windows to the front and aspect.

Bathroom (1.7m x 2.1m) has a bath, wash hand basin and WC. A window is to the rear aspect.

Carpet is fitted to the living arears and two double bedrooms. Wooden flooring is laid to the single bedroom. Kitchen/diner has wooden laminate. Vinyl is laid to the bathroom.

Gas central heating.

Enclosed rear garden with conservatory and shed.

Private driveway.

- Costs –

PRICE - £65,000*

RENT - £183.34pm

SERVICE CHARGE - £21.49pm**

*This represents a 50% share of the full open market value of £130,000

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

- General Information -

Tenure: Leasehold

Lease: 125 years from 1 January 2001

Years remaining on lease: approx. 106

Approximate internal area: 92 sq. m.

Local authority: Gateshead Metropolitan Borough Council

Council tax band: B

EPC rating: C (70)

- Terms, conditions and requirements -

Minimum household income requirement: £19,985^

Application process: A financial assessment must be completed before any physical viewing can take place. This forms part of Home Group’s buyer approval process. These assessments are carried out remotely by Metro Finance. Once you have confirmed an interest in purchasing a property, the contact details will be made available.

We will not carry out any credit checks or contact any reference agencies without your written consent.

Help to Buy Agent: In order to apply you must be registered with Help to Buy North https://www.helptobuyagent1.org.uk/apply/ You will need to provide your HTB reference when completing the application process.

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


- 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

  • *£65,000 for a 50% share available under the shared ownership scheme*
  • You can purchase more shares up to 100% when the time is right for you
  • Viewing is highly recommended
  • Excellent starter home
  • Enclosed rear garden
  • Private driveway
  • Walking distance to public transport
  • Easy access to A1, Newcastle City Centre and Metro Centre

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Calculate Monthly Cost

Share price
£ 65,000
Min. £65,000
Share percentage
Min. 50%
Your deposit
Min. £3,250
Monthly cost*
£528
Cost breakdown
£183
Rent
£21
Service charge
£324
Mortgage*
Calculated using a representative rate of 3.94%
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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.