Shared Ownership
This brand new home is available to buy from as little as £88,000 with a 40% share!
Discover Edward's Birch, an exciting new community on the edge of the historic market town of Morpeth, where contemporary living meets the beauty of the Northumberland countryside. A stunning collection of brand new 2, 3 and 4 bedroom homes available via Shared Ownership, this thoughtfully planned development offers the perfect opportunity for buyers to enjoy modern, energy efficient living in a peaceful setting while remaining close to everything needed for everyday life.
Morpeth is one of Northumberland's most desirable market towns, renowned for its charming streets, independent boutiques, cafés, restaurants and excellent leisure facilities. Residents can enjoy scenic riverside walks, beautiful parks and easy access to the breathtaking Northumberland coastline, with picturesque destinations including Amble and Alnwick just a short drive away. Whether you're looking for outdoor adventure or a vibrant town centre atmosphere, Edward's Birch offers the best of both worlds.
Perfectly positioned for commuters, the development enjoys excellent transport links with the A1 close by, providing convenient routes north and south, while Morpeth railway station offers regular East Coast Main Line services to Newcastle, Edinburgh and London. Combining a sought after location, beautifully designed homes and fantastic connectivity, Edward's Birch is an exceptional place to take your next step onto the property ladder through Shared Ownership.
Built to the ‘Kingfisher’ design, this impressive semi detached home features a spacious living room at the back of the house with double doors that open to the rear garden. There is also a ground floor cloakroom, a kitchen/diner, two double bedrooms and a bathroom. Externally is allocated parking and an enclosed garden.
PRICING & AFFORDABILITY
Full Market Value: £220,000
25% Share Price: £55,000 (rent £378.13pcm)
40% Share Price: £88,000 (rent £302.50pcm)
50% Share Price: £110,000 (rent £252.08pcm)
75% Share Price: £165,000 (rent £126.04pcm)
Minimum 5% Mortgage Deposit (25% share): £2,750
Approximate Service Charges: £39.62 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
At Edwards Birch, advertised shares start at 25% (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st October each year.
**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.
