3 bedroom house for sale
Balmoral Grove, St. Georges Wood, NE61 2GG
Share percentage 45%, full price £220,000, £4,950 Min Deposit.
Share percentage 45%, full price £220,000, £4,950 Min Deposit.
Monthly Cost: £950
Rent £328,
Service charge £58,
Mortgage £564*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
Deposit: If you will be obtaining a mortgage you will need at least £4,950 in savings (i.e. a 5% deposit).
Application process: If you wish to proceed with an application, a financial assessment must be completed. This forms part of Home Group’s buyer approval process. The 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.
Current homeowners: Anyone who currently owns a home must have a sale agreed to apply.
Local connection: Applicants must have a local connection to Morpeth. Local means the settlement, parish or adjoining settlement or parish in which the property is built.
Pets: Pets are permitted with written permission from Home Group in the form of a revocable licence at a cost of £125 + VAT.
Summary
3 bed home in Morpeth- can you afford to miss out?
Description
***Please quote BAL102 when enquiring***
- The exciting stuff! -
Tired of renting? Looking to step on to the property ladder? This 3-bedroom home tucked away in a popular residential area is just the answer! Perfect for commuting, ideal for entertaining and ready for you to put your own stamp on. Can you afford to miss out?
- What’s it all about? -
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. With a deposit of 5% its more affordable, just £4,950 for a 45% share!
- The need-to-know bits -
PRICE- *£99,000
RENT- £327.78pm
SERVICE CHARGE- £58.20**
*This represents a 45% share of the full open market value of £220,000
**This includes: Insurance and Management fee and are reviewed annually.
Tenure: Leasehold
Lease: 125 years from and including 1st January 2017
Deposit: If you will be obtaining a mortgage you will need at least £4,950 in savings (i.e. a 5% deposit).
Application process: If you wish to proceed with an application, a financial assessment must be completed. This forms part of Home Group’s buyer approval process. The 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.
Current homeowners: Anyone who currently owns a home must have a sale agreed to apply.
Local connection: Applicants must have a local connection to Morpeth. Local means the settlement, parish or adjoining settlement or parish in which the property is built.
Pets: Pets are permitted with written permission from Home Group in the form of a revocable licence at a cost of £125 + VAT.
Key Features
- Available under the shared ownership scheme- you will not want to miss this one!
- *Only £99,000 for a 45% share*
- Viewing is highly recommended
- Everything you need right on your doorstep!
- Neutrally decorated throughout- ready for you to put your own stamp on
- Private rear garden
- Parking available
- Call us today on 0191 7311445 to find out more!
Particulars
Tenure: Leasehold
Lease Length: 119 years
Council Tax Band: C
Property Downloads
Floor Plan Energy CertificateMap
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- 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 and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 45%, full price £220,000, £4,950 Min Deposit. Calculated using a representative rate of 5.26%
