RS: 81 Edison Drive

81 Edison Drive, Spennymoor, County Durham, Durham, DL16 7UW

RS: 81 Edison Drive

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A great chance to buy a spacious, family home. This recently-constructed property is conventional in layout featuring a ground-floor cloakroom and a good-sized reception room at the front while at the rear the kitchen/dining room has doors opening to the garden. Upstairs there is a bedroom with en-suite shower room plus a second comfortable double, a smaller third bedroom and the main bathroom. Well insulated walls, roof and floor, high performance glazing and a modern gas central heating system make for a very good energy-efficiency rating. A driveway provides space for off-street parking and the nearby A688 allows easy access to the A1(M) as well as connecting to several other major roads.

Features:

  • Guideline Minimum Deposit £6,725
  • Guideline Income £16,000
  • Two Storey, End of Terrace House
  • Approx. 827 Sqft Gross Internal Area
  • High Performance Glazing
  • Gas Central Heating
  • Rear Garden
  • Driveway Parking

Tenure: Leasehold (125 years from 2020).
Minimum Share: 50% (£67,250).
Shared Ownership Rent: £156.62 per month (subject to annual review).
Combined Insurance and Admin Fee: £25.73 per month (subject to annual review).
Guideline Minimum Income: £16,000 (based on minimum share and 10% deposit).
Council Tax: Band B, Durham County Council. Priority is given to applicants living and/or working in this local authority.

*Information is correct to the best of our knowledge, please speak to the estate agent for more information*

Shared Ownership Resales

When the owner of a Shared Ownership property decides to sell the share they own, this becomes a re-sale. You will only be able to purchase the same or larger share in the home as the existing owner, which can vary between 25% and 75% of the property's market value. Then, just like Shared Ownership, you pay a reduced rent on the remaining share. 

50% Ownership Pricing

Full Property Price Price For Percentage Share Monthly Rent For Share
£134,500.00 £67,250.00 £154.11

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