3 bedroom semi-detached house for saleHigh Carr Close, Aykley View, Durham
- NEW BUILD PROPERTY
- SEMI DETACHED PROPERTY
- OPEN PLAN LIVING
- THREE BEDROOMS
- LARGE REAR GARDEN
- SHARED EQUITY HOME
*** SHARED EQUITY PROPERTY *** £135,000 REPRESENTS A 75% SHARE *** NO ADDITIONAL RENT PAID ***
Brand new affordable home delivered by Hellens Residential.
Aykley View, Framwellgate Moor is a fantastic location for working families. There is a selection of local amenities on the door-step, and a vibrant mix of culture, history, entertainment and leisure The historic and busy city of Durham is just 1.7 miles away and Newcastle, 17 miles away. The site is minutes away from the University Hospital of North Durham and approximately a mile from Durham County Council’s offices at County Hall. There is a good selection of primary and secondary schools in the locality with New College Durham also in Framwellgate Moor. The property briefly comprises; Entrance hallway, lounge, breakfasting kitchen and ground floor WC. To the first floor there are three bedrooms and a family bathroom\WC. Externally there is off street parking for two cars and a good sized rear garden. Early viewing essential.
Accommodation Details -
Ground Floor Accommodation -
Relax Zone - 3.1 x 5.4 (10'2" x 17'8") - Open plan living accommodation. Staircase to first floor. Two central heating radiators. uPVC patio doors to rear garden.
Kitchen / Dining Zone - 4.1 x 4.5 (13'5" x 14'9") - Fitted with contemporary selection of wall and floor units with contrasting worktops. Gas hob and electric oven with extractor over. Space for washing machine and fridge freezer. Two uPVC double glazed windows. Central heating radiator.
Ground Floor Cloaks \ Wc - Low level WC. Pedestal wash hand basin. uPVC double glazed window. Central heating radiator.
First Floor Accommodation -
Bedroom One (Front) - 3.8 x 2.8 (12'5" x 9'2") - Two uPVC double glazed windows. Central heating radiator.
Bedroom Two (Rear) - 3.4 x 2.8 (11'1" x 9'2") - uPVC double glazed window. Central heating radiator.
Bedroom Three (Rear) - 2.5 x 2.3 (8'2" x 7'6") - uPVC double glazed window. Central heating radiator.
Bathroom \ Wc - 1.9 x 2.5 (6'2" x 8'2") - Fitted with a modern white suite comprising of a panelled bath with shower over. Low level WC. Pedestal wash hand basin. uPVC double glazed window. Central heating radiator.
External Accommodation - To the front of the property there is a driveway providing off street parking for two cars, whilst to the rear there is a generous size rear garden.
Fixtures And Fittings - Fixtures and fittings mentioned in these particulars are included in the sale. All others in the property are specifically excluded.
Photographs are reproduced for general information and it must not be inferred that any item is included for sale with the property.
Buying A Shared Equity Home - With shared equity you own 100% of the house as soon as you purchase the house.
On purchase you pay 75% of the value of the home (£154,500). You pay a deposit and get a mortgage as you need on that amount.
Hellens Residential then lends you the remaining 25% (£51,333). This is interest free for 10 years. You can pay off the entire loan over the 10 year period. There is no rent to pay.
About Your Shared Equity Offer
The shared equity mortgage scheme is offered to help customers afford to purchase a new home. This note is designed to help the purchasers understand directly how the shared equity scheme works.
Hellens Residential Limited agree to assist in the purchase by lending for 10 years 25% of the value of the property at the time of purchase. The purchase of the other 75% will be funded either wholly or partly by way of a mortgage. In consideration of the loan the purchaser agrees to enter into a second mortgage known as the shared equity mortgage which recognises that Hellens Residential Limited will have a 25% interest in the property. This will be secured by a sec-ond charge over the property. The mortgage lender will have a first charge over the property and the registration of those charges will be shown in that order on the legal title.
The amount of the loan will represent 25% of the purchase price.
Once you have signed the shared equity mortgage you do not need to make any repayments to Hellens Residential Lim-ited until repayment is triggered, for example if:
A) You sell your home
B) You let your home without permission
C) 10 years has elapsed from the sate of the shared equity mortgage
D) You have breached the terms of the first mortgage on the property or the terms of the shared equity mortgage in favour of Hellens Residential Limited
E) Your home is compulsorily purchased or repossessed
F) You repay the first mortgage unless you replace it with another mortgage nwith Hellens Residential Limited per-mission.
In the event that the purchaser owns the property on the tenth anniversary of the mortgage and in the opinion of Hel-lens Residential Limited is unable to repay the second mortgage due to financial hardship then the dates to repay the charge may be extended for one year at a time up to a maximum date of no later than the fifteenth anniversary of the charge (i.e. an extra 5 years). The purchaser is not able to pay off only part of the charge but may elect to pay off the whole of the charge on notice to Hellens Residential Limited.
Hellens Residential Limited will take a second legal charge (a mortgage) over your home to protect its interest. Please take independent legal advice from your solicitor / conveyancer if you do not understand what this means or how the scheme works. By entering into this scheme you will not receive the full sale value of your property after repaying your first mortgage when you come to sell or when repayment to Hellens Residential Limited is otherwise triggered in ac-cordance with the provisions of the shared equity mortgage.
WARNING TO HOUSE-PURCHASERS
Buyers are warned that the content of this leaflet are working drawings and the contents may be subject to change at any time and alterations and variations can occur during the progress of the build process. As such the layout, form, content and dimensions of the finished construction may differ materially from those shown. Whilst we make every effort to ensure our drawings are up to date there may from time be time be an unavoidable delay in updating these due to changes in regulations and/or re-planning. The con-tents of the drawing/dimensions do not constitute a contract, part of any contract or warranty.
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