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%.

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Hill Top View, 2-3 bed homes


Off Crow Trees Lane, Durham, Durham County, DH6 5BH

Shared ownership

Starting prices

25% share from
£30,000
Full price
£120,000
Minimum deposit
£3,000

Overview

Hill Top View is an exciting new development by Riverside Home Ownership, with 34 homes for Shared Ownership.

We have a selection of 2 and 3 bedroom houses and 2 bedroom bungalows for part buy-part rent, with shares available from 25%.

 

Designed in to be in keeping with the surrounding area, the properties are finished to a high standard and all include:

- Quality fitted kitchens

- Brushed steel oven, hob and cooker hood

- Ceramic wall tiled bathroom with over-bath shower and glass screen

- Fresh white paint finishes throughout

- Economical gas central heating

- Off road parking


Local area information

Situated in Bowburn, our homes benefit from a range of local amenities on the doorstep and picturesque countryside surroundings, within just a few minutes of junction 61 of the A1(M). Just 5 miles outside Durham, and around half an hour’s drive from both Newcastle and Middlesbrough, the development lies in an ideal commuter location.


Plot availability

Plot number TBC
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £30,000
Full market price £120,000
Monthly rent £206
Monthly service charge £29
Plot number TBC
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £32,500
Full market price £130,000
Monthly rent £223
Monthly service charge £29
Plot number TBC
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £33,750
Full market price £135,000
Monthly rent £232
Monthly service charge £29

FAQ's

Min share price from: £30,000 for a 25% share
Full price from: £120,000
Minimum deposit from: £3,000
Monthly rent from: £206
Bedrooms: 2
Bathrooms: 1

There are 3 available ranging from £30,000 for a 25% share to £33,750 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

Riverside
Shared ownership

Starting prices

25% share from
£30,000
Full price
£120,000
Minimum deposit
£3,000