Bishops Place

1 - 2 bedroom homes in Bishops Place, Paignton, Torbay, TQ3 3DZ

Tenure Shared ownership
What is Shared ownership?
Availability Available
Min share price from £67,725 for 50% share
Full price from £135,450
Min deposit from £3,386
Monthly rent from £155
Bedrooms 1-2
Bathrooms 1

Shared Ownership is a type of affordable home ownership when a purchaser takes out a mortgage on a share of a property and pays rent to a landlord on the remaining share.

For example, someone might buy a 50 per cent share in a property and pay rent to the landlord on the remaining 50 per cent. Purchasers then have the opportunity to ‘staircase’ up their share of the property, gradually increasing the proportion of their home that they own outright and therefore paying less rent on the remaining portion, until they own 100 per cent of their home.

Overview

Bishops Place, Paignton is made up of 1 and 2 bedroom apartments now available on part buy - part rent. 

Local area information

The development offers a range of apartment styles, some of which are situated within the Victorian fronted building, whereas others are located within the new build to the rear of the site. Each have one family sized bathroom, with an open-plan kitchen/lounge/diner, which is perfect for entertaining. Depending on the stage of build, customers will be given a choice of finishes in the kitchen and bathroom, allowing them to customise their new home before moving in. All apartment kitchens come furnished with a hob, oven and extractor fan.

Located within walking distance of the town centre, the apartments acquired their name by being located close to The Bishop’s Palace, a medieval building that dates back to the 14th century. The apartments are within quick and easy walking distance of Paignton Railway station and close to local amenities. All apartments have access to a communal bike store, as well as landscaped gardens to enjoy the town’s mild climate.

Status Plot No. Floor Beds Min share price Eligibility
Available 1 bed N/A 1 £67,725 View details
Available 2 bed N/A 2 £81,375 View details

FAQ's

Min share price from: £67,725 for a 50% share
Full price from: £135,450
Minimum deposit from: £3,386
Monthly rent from: £155
Bedrooms: 1
Bathrooms: 1

There are 2 available ranging from £67,725 for a 50% share to £81,375 for a 50% 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.
Illustration by: James Halsall

Register Interest

Register your interest to be contacted by a housing provider. You will need to provide basic eligibility criteria during the register interest process.

Bishops Place

1 - 2 bedroom homes in Bishops Place, Paignton, Torbay, TQ3 3DZ

Tenure Shared ownership
What is Shared ownership?
Availability Available
Min share price from £67,725 for 50% share
Full price from £135,450
Min deposit from £3,386
Monthly rent from £155
Bedrooms 1-2
Bathrooms 1

Shared Ownership is a type of affordable home ownership when a purchaser takes out a mortgage on a share of a property and pays rent to a landlord on the remaining share.

For example, someone might buy a 50 per cent share in a property and pay rent to the landlord on the remaining 50 per cent. Purchasers then have the opportunity to ‘staircase’ up their share of the property, gradually increasing the proportion of their home that they own outright and therefore paying less rent on the remaining portion, until they own 100 per cent of their home.

Location

Housing Provider

Trusted by

Southern Complete Moves Mayor or London National Housing Federation Moat Homes