What are the 6 best places to live in Durham?

The best areas to live in Durham

Are you a first time buyer in Durham looking to buy your first home and are undecided on a location? Have your living circumstances changed and you are looking at moving home into a new area in Durham? However, where are you going to move to?

To help sway your decision, we have come up with our top list of places to live in Durham.

1 – Durham’s City Centre

The city center is a captivating blend of history and contemporary living. With its cobbled streets, medieval architecture, and the iconic Durham Cathedral, the city center exudes a timeless charm. Residents enjoy easy access to a plethora of shops, restaurants, and cultural attractions. The city’s transport links make it convenient for those working or studying at Durham University, contributing to the vibrant and diverse community.

2 – Nevilles Cross

For those seeking a more tranquil setting while still being close to the city’s amenities, Nevilles Cross is an excellent choice. This residential area boasts tree-lined streets, parks, and excellent schools, making it an ideal location for families. With convenient access to the A167, commuting to neighboring cities is straightforward, and the nearby university facilities add an academic touch to the community.

3 – The Viaduct

The Viaduct area offers a picturesque setting along the River Wear, providing residents with stunning waterfront views. The Riverside Walk and Wharton Park are popular spots for outdoor activities, creating a peaceful and relaxing atmosphere. The neighborhood is well-connected by public transport, and the blend of modern housing and natural beauty makes Viaduct a sought-after location for those who appreciate the outdoors.

4 – Framwellgate Moor

Framwellgate Moor is known for its affordable housing options and strong sense of community. With local shops, schools, and parks, residents find everything they need within reach. The community atmosphere is further enhanced by regular events and activities organised by local groups. Proximity to the city center, combined with the affordable housing market, makes Framwellgate Moor an attractive option for many.

5 – Gilesgate

Situated to the east of Durham, Gilesgate has become a popular choice for students due to its close proximity to the university campuses. The area offers a lively atmosphere with diverse amenities, including pubs, cafes, and recreational facilities. While it has a youthful energy, Gilesgate is also home to families and professionals who appreciate the vibrancy of the neighborhood.

Book Your Free Mortgage Appointment Today

As you embark on the journey to find your dream home, consider these seven outstanding locations, each contributing to the vibrant tapestry of Durham’s diverse and welcoming communities. As your trusted mortgage broker in Durham, we are here to guide first time buyers and home movers in Durham through the process and help you secure the suirable purchase or remortgage deal that fits your needs.

Mortgage Protection Insurance Explained

Mortgage Protection Insurance is a term used to encompass various types of cover designed to protect borrowers from events which could severely impact their ability to maintain mortgage payments.

There are different variations but when connected to a mortgage they are all there to provide peace of mind and usually fall into the following categories:

Life Insurance in Durham

As a rule, if the policyholder dies within the term, then the sum assured should be enough to pay off the outstanding mortgage balance and ensure the borrower’s dependents aren’t left with a debt they might not otherwise be able to manage.

Our advisors can run through all the different types of life cover and recommend the most suitable plan for you.

Critical Illness Insurance

Critical Illness Insurance works in a similar way to Life Assurance, in that it is usually taken for a specific term of years and can have different options such as level/increasing etc. It is designed to pay out a lump sum and, like Life cover, for borrowers, it is typically taken on a decreasing term basis in line with the reduction of your mortgage balance.

The key is that the benefit is paid if you fall victim to one of a number of specified critical illnesses and pays out whatever the long-term prognosis of that illness. The type of illnesses covered vary from company to company, that’s why this type of insurance cannot be solely price-driven and advice is recommended.

In practice many companies will offer Life and Critical Illness Critical cover as a combined policy and would usually payout on the “first event” i.e. whatever happens first – either death or a serious illness – the pay-out is made. They can also be written on a single or joint life basis

Income Protection

Whereas Life and Critical Illness cover pay out a lump sum, Income Protection pays out a monthly sum designed to replace your wages in the event of you being unfit to work. Unlike Critical Illness cover, there are no restrictions on the illnesses or injuries covered, the only factor being whether they make you unfit to work. There are however restrictions on how much you can cover and how quickly benefits would start to be paid.

Like Life and Critical Illness cover, these policies are underwritten based on your health and lifestyle at the time you apply. All income protection policies are written on a single life basis.

Family Income Benefit

Probably the least common of the mortgage protection type policies but can often be valuable – particularly for those with young families. These plans can be taken to cover Life and/or Critical Illness and are underwritten on the application in the same way as mentioned above.

However, unlike the traditional forms of policy, rather than pay out a lump sum, the cover would pay an annual or monthly income for the remainder of the term of the plan. Thus, it can replace the income of the main breadwinner for a number of years, dependent upon a particular client’s circumstances and, because of this would usually be written on a level or basis, or an index-linked basis designed to keep up with inflation.

Mortgage and Protection Advice in Durham

There’s an adage that says you can never have too much insurance. Certainly, many people have one or more of the different types of policy and it would be wrong to think of Mortgage Protection Insurance as just an “either/or” choice.

However, in the real world, affordability plays a massive part, so whilst it would be fantastic to cover yourself for every potential opportunity, a good advisor will sit down with you and tailor the type of cover to be the most suitable combination to your family’s priority and budget.