Scheme gets first time buyers moving in Middlesbrough

First time buyer Sarah Goodrum became one of the first people to move into a new Middlesbrough housing development, when she used Taylor Wimpey’s shared equity scheme to buy her first home at the housebuilder’s Scholars’ Rise development.

With the Easystart shared equity scheme, the buyer pays a 5% deposit and then secures a mortgage on 80% of the property price, leaving Taylor Wimpey to step in and provide a rent and interest-free loan on the remaining 15% of the purchase price for up to ten years. Currently at Scholar’s Rise this means that a brand new home can be bought for just £118,957.

Sarah, who was previously living with her boyfriend Pete in Guisborough, said: “Pete owned the home we were living in, but I really wanted to move to a new build property. The Easystart shared equity scheme was brilliant because it meant that Pete could afford to keep his home and rent it out and I could afford to buy the new home in my name. Without shared equity we would have had to sell Pete’s house, so the scheme really gave us the breathing room we needed.

“I’d wanted to buy a house for a few years and I had my sights set on a new build property, because I wanted a home which wouldn’t need fixing up and was less hassle than a second hand home. Over the years I kept looking but couldn’t find the right home and then when we found Scholars’ Rise, it ticked all the right boxes.”

One of the big attractions of Scholars’ Rise for Sarah was its close proximity to James Cook University Hospital, where she works. Sarah estimates that she is able to save around £150 per month from being able to walk to work.

Jackie McKeown, regional sales manager for Scholars’ Rise, said: “The Easystart shared equity scheme has helped many first time buyers across Teesside afford to buy their first home and we’re really happy that Sarah was able to use it to buy the home she’d been looking for for years.

“Scholars’ Rise is great for those who work at the James Cook University Hospital or in Middlesbrough town centre and thanks to the Easystart shared equity scheme, our prices now start from £118,957 for a three bedroom home.”

Visitors to Scholars’ Rise can take a look around the four bedroom detached Hurstwood, three bedroom terraced Wessex and three bedroom Aston townhouse showhomes.

Currently available at Scholars’ Rise are a selection of three and four bedroom homes in townhouse, semi-detached and detached styles.

The development’s location on Marton Road means that it is a quick trip up the A172 to reach Middlesbrough town centre, while the James Cook University Hospital, the local Toby Carvery and smaller shops are also right on the doorstep of the development. Stewart Park and Albert Park are also nearby, as is Middlesbrough Municipal Golf Centre.

For commuters, Scholars’ Rise has easy access to the A66 and A19. Nearby Marton train station offers services into Middlesbrough as well as to Nunthorpe, Whitby, Hexham and Darlington, while Middlesbrough station itself offers wider services, including to Manchester.

For more information about the Easystart shared equity scheme at Scholars’ Rise, visit the development on Marton Road, open Thursday to Monday 10am until 5.30pm.