Merrington Park, 3-4 bed homes
Merrington Park, Durham is made up of 3 and 4-bedroom houses now available on part buy - part rent.
Local area information
Merrington Park in Spennymoor is an established development with a welcoming community feel. It offers a range of three and four bedroom homes, suitable for everyone from first time buyers to those needing a more spacious family home.
Due to popular demand, a brand new phase of homes is now available.
*Images are for illustrative purposes only. Please speak to Sales Adviser for full details*
Min share price from: £43,749 for a 25% share
Full price from: £174,995
Minimum deposit from: £3,500
There is only one available priced at £43,749 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.