That is a class D49/1 or often called a 'Hunt' or 'Shire' class locomotive, the majority being named for locations in the UK, for example this one being called 'Cheshire'.
It is in real life a 4-4-0 locomotive with the 4 main wheels being the drive wheels, Hornby made a lot of tender drive locomotives as it is somewhat easier to make them in this way, easier to maintain and to keep the production costs down. Some people don't like them as they feel they do not run as smoothly as a locomotive powered model, but in my experience it depends on the model. I've got some tender powered loco's which are smoother running than some loco powered ones.
Regardless its a lovely locomotive Jay, congrats
It is in real life a 4-4-0 locomotive with the 4 main wheels being the drive wheels, Hornby made a lot of tender drive locomotives as it is somewhat easier to make them in this way, easier to maintain and to keep the production costs down. Some people don't like them as they feel they do not run as smoothly as a locomotive powered model, but in my experience it depends on the model. I've got some tender powered loco's which are smoother running than some loco powered ones.
Regardless its a lovely locomotive Jay, congrats
Happily collecting things all my life... 
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