This superb modern home is available to buy from as little as £122,500 with a 50% share!
This well presented detached home is situated in the popular residential area of Ryhope, Sunderland, and offers spacious, versatile accommodation. The ground floor comprises a welcoming entrance hallway, a cloakroom, a generous living room and a spacious kitchen/dining room with French doors providing access to the rear garden. Upstairs, the property benefits from three bedrooms, including a principal bedroom with en-suite, alongside a contemporary family bathroom. Externally, the property further benefits from a separate garage and an enclosed rear garden.
Cherry Brooks Way enjoys a convenient position within Ryhope, a well-established residential area to the south of Sunderland city centre. Residents can enjoy access to a range of local shops, supermarkets, schools and everyday amenities, while Sunderland's wider selection of shopping, restaurants, leisure facilities and entertainment venues is within easy reach. The beautiful coastline at Seaham and the popular beaches of Roker and Seaburn also provide excellent opportunities for coastal walks and days out.
The property is well positioned for commuters, with convenient access to the A19 providing connections to Newcastle, Durham and the wider North East. The nearby A690 offers a direct route towards Sunderland city centre and Durham, while local bus services provide additional transport options. Sunderland railway station offers onward regional and national rail connections.
PRICING & AFFORDABILITY
Full Market Value: £245,000
50% Share Price: £122,500 (rent £366.60pcm)
Minimum 5% Mortgage Deposit (50% share): £6,125
Approximate Service Charges: £35.53pcm*
Shared Ownership Lease: 996 years remaining
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
