Summary - Sheringham Court, Redcar, TS10 TS10 2RR
2 bed 1 bath Semi-Detached
Buy half now with a small deposit and build equity over time.
50% shared ownership available for £80,000 (market value £160,000)
Minimum 5% deposit required
Monthly total charge approx £306.71 (rent + service charge)
97 years remaining on the lease — may affect some mortgages
Rear garden and large garage included
EPC rating D; mains gas central heating and double glazing
Annual rent increase each April — affects long-term cost
Low-crime, well-connected coastal town location
A bright two-bedroom semi-detached home in Redcar offered as a 50% shared ownership share, ideal for first-time buyers seeking an affordable route onto the ladder. The layout is simple and practical: living room and separate kitchen on the ground floor, two bedrooms and family bathroom upstairs. Outside there’s a rear garden and a spacious garage for parking or storage.
Upfront cost is low — the 50% share is available for £80,000 with a minimum 5% deposit — but buyers should factor ongoing costs: a monthly rent of £271.63 on the unsold share, a monthly service charge of £35.08, and an annual rent increase each April. The property is Leasehold with 97 years remaining; this is generally ample but you should check mortgage availability and future saleability with your solicitor.
Practical comforts include mains gas central heating (boiler and radiators), double glazing and an EPC rating of D. The neighbourhood is quiet and very low-crime, with local shops, parks and the seafront nearby and good rail links from Redcar to regional centres. This is a pragmatic, affordable home for someone ready to live locally and improve equity over time.
Notable cautions are the leasehold/shared ownership arrangement, ongoing landlord charges payable on completion, and the annual rent rise which affects long-term running costs. Prospective buyers should confirm eligibility for the scheme and get independent financial and legal advice before proceeding.
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