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)

Quarry Place, 2-3 bed homes


Roundhill Avenue, Newcastle upon Tyne, Newcastle City, NE5 3PY

Shared ownership

Starting prices

25% share from
£35,000
Full price
£140,000
Minimum deposit
£1,750
Monthly rent
£241
Monthly service charge
£40

Overview

***Our homes at Quarry Place are reserving fast – call us now to make sure you don’t miss out!***

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Conveniently located in Blakelaw in the west end of Newcastle, Quarry Place is a collection of brand new collection of two and three bedroom homes, with 34 available through shared ownership.

Ideal for first time buyers and families, our stylish new homes have a great range of local amenities right on the doorstep, from major supermarkets to well regarded local schools, and excellent transport links to make commuting a little easier.

The full market value of these homes is from £140,000 but with shared ownership you could purchase an initial 25% shared for just £35,000 and pay a monthly rent of the remaining share.  This could mean your total monthly payments could be as low as £456.  If you are buying with a mortgage you would only need a deposit of 5% of the amount you borrow, meaning your deposit could be as low as £1,750.*

*This is based on an initial 25% share (£35,000) of a two bedroom house valued from £135,000 with a 5% mortgage deposit (£1,750). The estimated monthly service charge is approximately £40.

 Photos and CGIs are for illustrative purposes only and may feature previous developments.


Local area information

Our homes at Quarry Place are conveniently located in a bustling local area with great transport links.

Set close to the A1 and A167, homes are ideally located for local commuting to nearby Newcastle and Gateshead, as well as traveling afield, both north and south. The area is also covered by several regular local bus services, and Kingston Park Metro station is less than three miles away.

There are several local convenience stores and major supermarkets nearby, and several homeware stores at the St James Retail Park. The area has a number of local primary and secondary schools, while those in higher education are within easy reach of the universities of Newcastle and Northumbria.

For even greater choice, Newcastle City Centre is less than four miles away, so you can easily enjoy everything the city has to offer, from great shopping and fantastic nightlife to family entertainment and leisure. You are also just five miles from Intu Metrocentre, where you’ll find major retailers and a range of eateries and entertainment.


Plot availability

Plot number The Watnall
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £35,000
Full market price £140,000
Monthly rent £241
Monthly service charge £40
Ownership Leasehold

The Watnall is our modern two bedroom home at Quarry Place. Available as terraced or semi-detached, it's perfect for first time buyers, couples and new families.

The ground floor is home to a dining/kitchen and living room with a handy cloakroom. The modern Symphony kitchen with integrated appliances and dining area to the front of the house is the perfect place for socialising and entertaining.  To the rear of the home is the living room. With French doors opening out to the turfed garden, you've got the perfect excuse for enjoying those sunny summer days with a barbecue.

Upstairs you will find two double bedrooms with a lovely family bathroom.  The master bedroom has two built in storage cupboards, so there's plenty of room to keep things tidy.

Our homes all have private driveways and fenced and turfed rear gardens.

The full market value of these homes is from £140,000, but with shared ownership you could purchase an initial 25% shared for just £35,000 and pay a monthly rent of the remaining share.  This could mean your total monthly payments could be as low as £456.  If you are buying with a mortgage you would only need a deposit of 5% of the amount you borrow, meaning your deposit could be as low as £1,750.*

*This is based on an initial 25% share (£35,000) of a two bedroom house valued from £140,000 with a 5% mortgage deposit (£1,750). The estimated monthly service charge is approximately £40.
 Photos and CGIs are for illustrative purposes only and may feature previous developments.

Plot number The Raigmore
Tenure Shared ownership
Availability Available
Bathrooms 1
Minimum share 25%
Minimum share price £40,000
Full market price £160,000
Monthly rent £275
Monthly service charge £40
Ownership Leasehold

The Raigmore is our modern three bedroom home at Quarry Place. Available as terraced or semi-detached, it's perfect for first time buyers, couples and growing families.

The ground floor is home to a dining/kitchen and living room with a handy cloakroom.  The modern Symphony kitchen with integrated appliances and dining area is to the rear of the home and has French doors leading out to the garden, making this a perfect space for socialising and entertaining, especially during the summer months – who needs an excuse for a barbecue?

To the first floor there are two double bedrooms and a versatile single bedroom, which would also make an excellent home office or nursery. There’s also a modern family bathroom and a handy storage cupboard off the landing.

Our homes all have private driveways and fenced and turfed rear gardens.

The full market value of these homes is from £160,000, but with shared ownership you could purchase an initial 25% shared for just £40,000 and pay a monthly rent of the remaining share.  This could mean your total monthly payments could be as low as £516.  If you are buying with a mortgage you would only need a deposit of 5% of the amount you borrow, meaning your deposit could be as low as £2,000*

*This is based on a 25% share (£40,000) of a three bedroom house valued from £160,000 with a 5% mortgage deposit (£2,000). The estimated monthly service charge is approximately £40.  The share you buy is dependent on your financial and personal circumstances. Prices are indicative only and are subject to change.
Photos and CGIs are for illustrative purposes only and may feature previous developments.


FAQ's

Min share price from: £35,000 for a 25% share
Full price from: £140,000
Minimum deposit from: £1,750
Monthly rent from: £241
Bedrooms: 2
Bathrooms: 1

There are 2 available ranging from £35,000 for a 25% share to £40,000 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

Home Group
Shared ownership

Starting prices

25% share from
£35,000
Full price
£140,000
Minimum deposit
£1,750
Monthly rent
£241
Monthly service charge
£40