New Shared Ownership Homes Come To Rochester

Hyde New Homes’ Rochester Riverside is set in the heart of Rochester, and the latest launch there is providing affordable Shared Ownership homes for buyers looking to set up home in the picturesque county of Kent.

Shared Ownership may come as great news for those who may have been previously priced out of the area, and as new build homes are constructed to more energy-efficient standards than most re-sale properties, homeowners will be saving on their energy bills too.

This phase offers a choice of one- and two-bedroom apartments, and three-bedroom mews houses. Prices start from £95,000 for a 40% share of a one-bedroom apartment (full market value £237,500). With Shared Ownership, buyers can secure an equity share of 40% for the apartments, or 25% for the houses with a 10% deposit from just £9,500. Along with a mortgage, buyers will then pay a subsidised rent to Hyde New Homes on the unpurchased share. As a Shared Ownership homeowner, you will be able to purchase more shares at any time (called staircasing) which is convenient to you and can own up to 100%.

Rochester Riverside is a growing community, set within 10 acres of open space with a central plaza with convenient shops and amenities, such as a Co-op, Travelodge and Costa now open. The development also offers a newly regenerated 2.5km riverside walk, as well as views across the Medway and inland towards the historic Rochester Castle and Cathedral.

The sought-after location also boasts excellent transport links. Rochester railway station is within walking distance, so London is a short 33-minute journey for commuters thanks to High Speed, and the rest of the South Coast is within easy reach.

Minnie Dando, head of marketing and communications at Hyde New Homes, said: “We are pleased to be launching the third phase of this fantastic development, which has already proved to be hugely popular with the region’s homebuyers. Giving people the perfect balance of history and modern contemporary living, Rochester Riverside is a very special place to live. The community now benefits from a number of attractive amenities, so it comes as no surprise that it is super popular.”

She added: “Shared Ownership has provided many buyers the chance to step onto the property ladder in areas they would originally have not been able to afford. We are confident that this approach will help more of Kent’s buyers achieve their homeownership dreams and look forward to welcoming them to this wonderful development.”

These new homes are available to buy off-plan now and will be ready for occupation from April 2023. Find out more about current Hyde New Homes developments.

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