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PHONE: 0843 313 1629
FAX: 01207 524345
Greencroft Industrial Park,
To view available properties go to the Rightmove website
Prince Bishops Homes provides a wide range of quality properties to rent across County Durham in the north east of England.
Tenants have direct access to Prince Bishops Homes’ staff, who can quickly deal with problems without the delays normally experienced with a letting agent. Our portfolio consists mainly of new build property and is maintained to the highest standard.
We also provide an innovative "rent to buy scheme" where tenants who have lived in a property for four years can take an option to purchase their home and share in any increase in value over the rental period. This could be used as a deposit when purchasing the property.
Prince Bishops Homes is a subsidiary of one of the North East’s largest property companies. The group owns around 7,000 properties for rent and employs around 200 people, including its own trades men who provide a 24/7 repair service and specialists in all aspects of housing.
Our portfolio consists mainly of new build property and is maintained to the highest standard
Rent to Buy Scheme
This scheme is designed for those individuals who wish to purchase a home but cannot afford a
mortgage or access funding.
The scheme provides opportunity for resident to acquire the property after occupying the home
for 4 years by giving a discount which can be used as a deposit when applying for a mortgage.
The resident does not have to participate in the scheme and there is no penalty or additional
rent charge to be included.
How it works
- On commencement of tenancy you will be notified of the initial price of your property. This will be approximately the current value of the house.
- After living in the property for four years you can apply (in writing) to Prince Bishops Home to purchase your home.
- Prince Bishops Homes will then value your home. If you are unhappy with the valuation you can, at your cost, have two alternative independent valuations carried out (by valuers approved by Prince Bishops Homes). The highest of these two valuations will then be used as the valuation price for your home.
- Prince Bishops Homes will then offer to sell the house to you at the valuation price less 50% (discount) of the difference between the initial price and the valuation or at the initial price if this is greater than the valuation.
- The discount cannot exceed 20% of the initial price.