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Special Offer On Home Reach In Durham

Posted 26 November 2021 by Keith Osborne

Buyers can now get some free extras on the 'Cannington' house type on the Home Reach 'part buy-part rent' initiative...

There’s a new deal available on homes at The Drive at Mount Oswald in Durham, giving a little extra to people who purchase through the Home Reach scheme.

Home Reach gives buyers who meet the eligibility criteria the opportunity to ‘part buy-part rent’ a brand new home. You can purchase a share of a new build home (usually starting at 50%) and pay a subsidised rent on the remainder, with heylo as the landlord. The scheme is offered on selected plots at a development and provides all the benefits of homeownership but requires a much smaller deposit (5% of the share price) and a smaller mortgage than when purchasing outright. Over time, owners can buy further shares as their budget allows, until they own 100%.

Heylo is now offering flooring on the Home Reach plots for sale at The Drive at Mount Oswald – a significant saving that can also buyers to dedicate some of their budget to other ‘extras’ or personal treats for their new properties – and for house-hunters who are keen and able, the homes are ready to move into before Christmas.

The ‘Cannington’ is a three-bedroom house type that qualifies for the offer. It’s a semi-detached house set out over three floors, providing a spacious and flexible place to live and, for many, work from home. In fact, the dedicated study is the first room to be found off the entrance hallway, at the front of house. The kitchen has plenty of storage and worktop and beyond that is the living/dining room which has a delightful glazed by bringing in lots of natural light and allows access to the rear garden through French doors. The ground floor is completed by a utility cupboard, storage cupboard under the stairs and a WC. On the first floor is another living room, the bathroom and one of the double bedrooms. The other two bedrooms – both doubles – are on the top floor, with bedroom one having an en suite.

A 50% share of the ‘Cannington’ is priced from £161,995, based on a full market price of £323,990. The would require a minimum of 5% deposit from £8,100. Estimated costs on this home are from £1,220 per calendar month.

The Drive at Mount Oswald has a mix of three- and four-bedroom homes and is just two miles from the city centre, yet on the doorstep of picturesque woodland, nature trails and views of open space. There are highly regarded schools and the city’s top university nearby. Park and Ride servced and the A1(M) are within easy reach. Find out more from Home Reach.

 

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Durham, County Durham DH1
£164,998 (from 50% share)
The Drive at Mount Oswald
Durham, County Durham DH1 
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A Guide To Part Buy Part Rent
With Home Reach you buy a share of your chosen newly built home and pay a monthly rent on the part you don’t buy. Your budget will decide the size of the share you buy, rather than the size of your home. So, you might decide to buy a bigger share of a lower priced home or a smaller share of a more expensive home.

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