Shared Ownership in Reading, Berkshire. 1 bedroom Flat

  • £175,000

    Equity share: 40% / £70,000

MTVH - Lundy House
For Sale Shared Ownership

Shared Ownership in Reading, Berkshire. 1 bedroom Flat

MTVH - Lundy House
  • £175,000

    Equity share: 40% / £70,000

Property Overview

  • Flat
  • Property Type
  • 1
  • Bedroom
  • 1
  • Bathroom

Property Description

We are pleased to bring to the market this 1 bedroom Flat Shared Ownership. It is situated in Reading, Berkshire and is available now.

This superb modern apartment is available to buy from as little as £70,000 with a 40% share!

Offered to the market is this well-presented top floor apartment located within the Kennet Island development. The property benefits from having a double bedroom, a modern bathroom, an open plan kitchen/dining/living room and an allocated parking space.

The home is situated in the popular area of Kennet Island which is ideally located for easy access to Reading Town Centre which offers a variety of high street and designer shops, cafes and riverside restaurants. Access to J11 of the M4 and A33 to Basingstoke are easily accessible., there is a regular bus service into Reading town centre and the Hilton Hotel with its fitness facilities are only a short walk away.

PRICING & AFFORDABILITY

Approximate Size 46 sq m

Full Market Value: £175,000

40% Share Price: £70,000 (rent £466.60pcm)
Minimum 5% Mortgage Deposit (40% share): £3,500
Approximate Service Charges: £140.05pcm*
Shared Ownership Lease: approx. 84 years
Council Tax Band: C

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.

** 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.

Property Address

Open on Google Maps
  • Address MTVH - Lundy House
  • City Reading
  • County Berkshire
  • Postal Code RG2 0GQ

Details

Updated on June 19, 2024 at 10:40 am
  • Property ID: MS-124245
  • Rental Amount Per Month: £467/Month
  • Bedroom: 1
  • Bathroom: 1
  • Property Type: Flat
  • Property Status: For Sale, Shared Ownership
  • Estimated Monthly Service Charge (£): 140
  • Value Of The Equity Share: 40% / £70,000
  • Overall Property Value: £175,000
  • Tenure: Leasehold
  • Length of Lease: 84

Contact SOWN about: Shared Ownership in Reading, Berkshire. 1 bedroom Flat

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