Arans Way Ingleby Barwick, Stockton-On-Tees Stockton, TS17 5FZ

This beautiful brand new 2 bedroom bungalow is situated in Ingleby Barwick. The property features 2 bedrooms, brand new fully-fitted kitchen, bathroom, driveway and rear garden. Book a viewing today.

This property is on the Shared Equity Scheme. This is where the purchaser owns their home on Day one but they only pay for part of the equity initially.

This % varies but is usually between 60% - 80% equity purchased on Day one. It is a usually a freehold purchase. Please note apartments are leasehold.

The purchaser would fund the initial equity amount by 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 equity loaned to the purchaser by Hellens Residential is then redeemed at end of the second charge period or when they sell 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.

With Shared Equity 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.