Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

Read more about Shared ownership (Opens in new window)

Barley Gate, 3 bed homes


Vigo Lane, Chester-le-Street, Durham County, DH3 2AN

Shared ownership

Starting prices

25% share from
£48,250
Full price
£192,995
Minimum deposit
£2,437
Monthly rent
£370

Overview

Make your home ownership dream a reality with a deposit from as little as £2,437

Register your interest today. 
 


Local area information

Barley Gate, located in Chester-le-Street, is ideally positioned for the nearby cities of Durham, Newcastle and Sunderland - perfect for commuting and accessing established retail outlets, cultural attractions and major sporting venues.


Plot availability

Plot number The Newbridge
Tenure Shared ownership
Availability Available
Bathrooms 2
Minimum share 25%
Minimum share price £51,249
Full market price £204,995
Monthly rent £372
Ownership Leasehold

As part of our Shared Ownership scheme, this home is available to purchase from a 25% share of £51,249 and a deposit as little as £2,562!

Shared Ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. Thirteen own part of it - but you're living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It's a sooner first step on the ladder for lots of people and you can also carry on buying shares to own your home 100%!

This Newbridge 3 bedroom, semi-detached home with off street parking spaces, is perfect for growing families looking for their dream home. Barley Gate, located in Chester-le-Street, is ideally positioned for the nearby cities of Durham, Newcastle and Sunderland - perfect for commuting and accessing established retail outlets, cultural attractions and major sporting venues.

The Newbridge includes features such as:

  • Designer kitchen
  • Open plan dining area
  • Spacious living area
  • Bi-folding doors opening out into the garden
  • Downsairs WC
  • Under-stairs storage cupboard
  • En-suite to the master bedroom
  • Additional double room with generous single room
  • Contemporary sanitaryware
  • Heated towel rail
  • Heating controlled by Hive wireless thermostat

Estimated monthly finances on a Newbridge:

  • 25% share: £51,249
  • 5% deposit: £2,562
  • Total rent (pcm): £372

*Please note, photography is used for illustration purposes only. Share offered is dependant on individual financial situation and may differ to those shown. 5% typical deposit required by mortgage lender, when mortgage is required. Actual deposit may vary based on lender and personal circumstances.


FAQ's

Min share price from: £51,249 for a 25% share
Full price from: £204,995
Minimum deposit from: £2,437
Monthly rent from: £372
Bedrooms: 3
Bathrooms: 2

There is only one available priced at £51,249 for a 25% share.

It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.

An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.

Leasehold, which is essentially the contract for the share you've bought.

It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.

Your solicitor can help you with this.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Thirteen
Shared ownership

Starting prices

25% share from
£48,250
Full price
£192,995
Minimum deposit
£2,437
Monthly rent
£370