3 bedroom Property for sale,

Consett, County Durham, DH8

Local travel

Walking

Knitsley Farm Shop – Estimated 15 minutes

Golden Fish Inn – Estimated 4 minutes

Briardale local Post Office – Estimated 10 minutes

Driving

Newcastle upon Tyne – Estimated 40 minutes

Whitley Bay – Estimated 52 minutes

Derwent Reservoir – Estimated 19 minutes

Public Transport (Bus)

Durham – Estimated 31 minutes

Newcastle upon Tyne – Estimated 1 hour and 17 minutes

Stanhope, North Pennines– Estimated 1 hour and 9 minutes

Shared Ownership

Shared ownership is a government-backed scheme that supports people those who can’t yet afford to buy a home outright. The scheme works by allowing you to buy a percentage share that you can afford of a leasehold home and pay rent on the rest. You will only need to secure a mortgage on the percentage of the home that you purchase meaning your deposit is a lot lower than it would be buying on the open market.

For example, you might buy a 50% share in the property and pay rent to the landlord for the remaining 50%. You may pay monthly ground rent and service charges, for example towards the maintenance of communal areas. The share you can initially buy is usually between 10% and 75%. As and when your financial circumstances change, you will be able to purchase more shares in your home through ‘staircasing’ until you own 100% of your home.

Eligibility

You can apply to buy the home if both of the following apply:

Your household income is £80,000 or less.

You cannot afford all of the deposit and mortgage payments to buy a home that meets your needs.

One of the following must also be true:

You're a first-time buyer.

You used to own a home but cannot afford to buy one now.

You're forming a new household - for example, after a relationship breakdown.

You're an existing shared owner, and you want to move.

You own a home and want to move but cannot afford a new home for your needs.

If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.

You must have a good credit record. Your application will involve an assessment of your finances.

£10,750 (based on 10% deposit)

Reservation fee - £300

Disclaimers

Agent's Note

Please note that all particulars and images are for marketing and illustrative purposes only. Advertising images may include upgrades as home specifications can vary.

IMPORTANT NOTE TO PURCHASERS:

We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise.