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This brand new 3 bedroom property is situated at Windlestone Point, Chilton. On the ground floor the property features a brand new fully-fitted kitchen, living room and downstairs WC. Upstairs features 3 bedrooms and a family bathroom.

The property boasts its own rear garden, solar panels, EV charging and its own double driveway.

Book your viewing today.

Location:
The property is approx four miles from the A1(M). Situated between Durham and Darlington, both cities are easily accessible within a 20-minute drive. Local bus services connect residents to neighbouring towns like Newton Aycliffe, Bishop Auckland, Ferryhill, and Spennymoor, making it ideal for commuters.

This property is on the Shared Equity scheme.

This purchaser owns 100% of the home on day one (unlike shared ownership) but they only pay for part of the equity initially. 80% equity is purchased on day one. This is a freehold purchase. No rent is paid.

The purchaser would fund the initial equity amount in the normal way of a deposit and mortgage. The remaining equity is held by Hellens Residential as a second charge for a time period (this is usually repayable on the 10th anniversary after purchase of the initial equity).

The Hellens Residential equity is then repaid at the end of the second charge period or when the purchaser sells the property (the earlier of the two events). The amount repayable to Hellens Residential is interest free and fixed at the initial purchase price. The equity loan needs to repaid in one lump sum.

When it comes to resale, there are no affordable home restrictions on the title. The seller would put their property on the market at full market value. From the sales proceeds received, they would first repay their mortgage, second Hellens Residential and any remaining funds they would retain.