AVAILABILITY UPDATE – 2nd February 2015
Phase 1 (nine houses) – four properties have now completed, four are reserved and one is under application.
Phase 2 (eight houses) – four properties are reserved, leaving one 1-bedroom home and three 3-bedroom homes available.
If you’d like to buy your own home, then why not take a look at shared ownership with Derwent Living in Newark?
Launched by Alasdair Morrison & Partners, this development of 17 brand new homes offers a choice of modern 2- and 3-bedroomed semi-detached and town houses off Barnbygate, all within 400 metres of Newark market square. Each property will come with an allocated parking space, garden shed, plus a built-in oven and hob.
Says Dawn Cox of Alasdair Morrison & Partners:
“This part-buy, part-rent scheme means that you buy between 25–75% of the property and pay a monthly rent for the remainder of the purchase price, with an option to buy a greater share of the property in the future. Starting prices for the properties will be £30,000 for a 25% share.”
Shared ownership living in Newark with Alasdair Morrison & PartnersPhase 1, released in mid-November 2014, comprised six 2-bedroom and three 3-bedroom properties. Demand for the properties has been keen; within three weeks of the launch, six properties were already reserved.
Phase 2 will be launched at the end of January 2015 and will comprise six 3-bedroom and two- 2-bedroom properties.
Applicants have to meet certain criteria:
- Be over 18
- Have a household income below £60,000 per annum
- Do not currently own a home, or have their name on another mortgage
- Never have been in mortgage or rent arrears and have a good credit history
- Have at least £2,500 to cover purchasing costs.
When assessing applicants, priority will be given to current local authority / housing association tenants and serving members of the armed forces.
Dawn continues:
“We know that there are many local families waiting for the opportunity to get onto the Newark housing market and shared ownership is a great way for them to achieve their own home.
“All interested parties must fit the aforementioned criteria and complete both an Orbit Help To Buy application form as well as a Derwent Living application form.
“You must also have a mortgage agreement in principal and proof of your cash funding.
“Please contact us at Alasdair Morrison & Partners on 01636 700888 or pop into our office at 26 Kirkgate, Newark to get further details and information.”
