Share Price £87,500 (from 70% Min. Share)

Full Value £125,000 | £4,375 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom house in Newcastle upon Tyne - Newcastle upon Tyne

place Bowes Court, NE3 1SL

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Introducing a stunning two-bedroom house for the over 55s with private garden in the desirable area of Gosforth, close to the town centre.


Description

***Please quote BOW227 when enquiring.***

 

- Introduction -

Introducing a stunning two-bedroom house for the over 55s with private garden in the desirable area of Gosforth, close to the town centre.  This mid-terrace house sits in a quiet location and boasts views onto a rear garden at the back, and impeccably maintained garden at the front. This accommodation features a kitchen, lounge, entrance hall and WC on the ground floor. The upstairs has two generously sized bedrooms and a recently fitted Stannah stairlift. Offered for sale with vacant possession and no onward chain.

 

- What the owner says -

“Set in a quiet location, this corner property has a garden to the side and rear, with a communal landscaped area to the front. Great for bus routes and Metro to Newcastle centre & Gosforth High Street. It is very quiet and one of the few houses on this development. Benefits from a new stairlift, large lounge and kitchen. Great double bedroom all very light and benefit from double aspects overlooking garden.

 

- Full description –

Two storey mid-terraced house in an established residential area in South Gosforth.

Entrance is accessed by a keysafe for added security.

Lounge (4.4m x 3.5m)

Sleek kitchen/diner (4.6m x 2.8m) has coordinating fitted units with complimentary work tops. Electric cooker and hob, washing machine and boiler.

Master bedroom (4.5m x 3.5m) with fitted wardrobe, radiator and windows overlooking the front and back garden (double aspect).

Second bedroom (3.6m x 2.4m) with radiator and window overlooking the side and rear garden.

Family bathroom with bath tub, walk in shower, wash basin, WC, radiator and window.

Fitted carpet to the stairs, wooden flooring laid to bedrooms, lounge and kitchen while vinyl to the kitchen and bathroom.

Gas central heating.

Exceptionally well maintained front garden; private rear garden with shed and rear patio.

Parking at the front of the property.

 

- Costs –

PRICE - £87,500*

RENT - £0 (no rent is payable on this over 55s property)

SERVICE CHARGE - £511.85pa**

*This represents a 70% share of the full open market value of £125,000

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

 

- General Information -

Tenure: Leasehold

Lease: 60 years from 16 September 2003

Years remaining on lease: Surrender and Regrant of 60 years

Approximate internal area: 75 sq. m.

Local authority: Newcastle City Council

Council tax band: B

EPC rating: C (71)

 

- Terms, conditions and requirements -

 

Minimum household income requirement: £21,855 per annum^

 

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 The Mortgage People. 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.

 

Age requirements: Applicants must be aged 55.


- 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

  • *£87,500 for a 70% share* available under the Over 55's scheme
  • Offered for sale with vacant possession and no onward chain
  • Downstairs WC and cloakroom
  • Private side and rear garden
  • Allocated parking space at front
  • Recently fitted Stannah stairlift
  • Walking distance to public transport and Metro stations
  • Easy access to Newcastle Town Centre

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Calculate Monthly Cost

Share price
£ 87,500
Min. £87,500
Share percentage
Min. 70%
Your deposit
Min. £4,375
Monthly cost*
£479
Cost breakdown
£0
Rent
£43
Service charge
£436
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.