Shared Ownership

This superb modern home is available to buy from as little as £95,000 with a 50% share!

Conveniently situated on the outskirts of Reading town centre is this well presented one bedroom apartment. The property is on the first floor of a modern development and the accommodation provides a spacious living room open plan with a fitted kitchen, a double bedroom with build in wardrobes and bathroom. Further benefits include an allocated parking space and the lease will be extended on completion.

Just 2 miles west of Reading town centre, this property is perfectly situated in a quiet residential area with easy access the motorway network, local bus routes and he Elizabeth line in to London. Reading provides an array of shops and amenities, restaurants, bars and pubs. There is a park nearby and a choice of local schools.

PRICING & AFFORDABILITY

Full Market Value: £190,000

50% Share Price: £95,000 (rent £408.23pcm)
Minimum 5% Mortgage Deposit (50% share): £9500
Approximate Service Charges: £146.76pcm*
Shared Ownership Lease: approx. 970 years (on completion)
Council Tax Band: B

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.

** This home can also be purchased outright (100% of the value) which is £190,000 and a purchaser would not need to meet the eligibility criteria listed above.