Shared Ownership in Reading, Berkshire 2 bedroom Apartment

  • £375,000

    Equity share: 25% / £93,750

Bankside Gardens - Plot 203
For Sale Shared Ownership

Shared Ownership in Reading, Berkshire 2 bedroom Apartment

Bankside Gardens - Plot 203
  • £375,000

    Equity share: 25% / £93,750

Property Overview

  • Apartment
  • Property Type
  • 2
  • Bedrooms
  • 1
  • Bathroom

Property Description

We are pleased to bring to the market this 2 bedroom Apartment Shared Ownership. It is situated in Reading, Berkshire and is available now

This brand new home is available to buy from as little as £92,500 with a 25% share!

Tucked away amongst the cluster of lakes weaving through the town, Bankside Gardens is a collection of brand new Shared Ownership apartments, offering the perfect work and play balance. With the brand-new Reading Green Park station just moments from your home, you are able to link with Reading mainline train station in under 5 minutes, taking you out to the London Paddington direct in under half an hour or connecting you to the Elizabeth Line from Reading to Central London and Heathrow Airport.

Each home at this incredibly desirable lakeside location will benefit from an all-inclusive specification, including a fully fitted kitchen, bathroom and flooring throughout. With a local convenience store, coffee shop and access to the A33/Junction 11 of the M4 motorway just a short distance away from your doorstep, these charming waterside apartments are the perfect place to call home.

Specification features included as standard:

* Flooring to living/kitchen areas, hallway and storage / utility cupboard
* Carpet to all bedrooms throughout
* Communal heating system included
* Paint to all walls and ceilings
* Large aspect composite windows and doors
* Washer dryer positioned in storage / utility cupboard
* Double wardrobe to master bedroom with mirrored sliding doors
* Contemporary tiled bathroom
* Contemporary kitchen with soft close doors and drawers and matching upstand
* Stainless steel splash back
* LED pelmet lighting to wall units
* Integrated appliances including oven, ceramic hob, fridge/freezer, dishwasher and extractor

PRICING & AFFORDABILITY

Approximate Size 710 sq ft

Full Market Value: £370,000

25% Share Price: £92,500 (rent £635.94pcm)
50% Share Price: £185,000 (rent £423.96pcm)
75% Share Price: £277,500 (rent £211.98pcm)

Minimum 5% Mortgage Deposit (25% share): £4,625
Approximate Service Charges: £270.90 pcm*
Shared Ownership Lease: 999 years
Council Tax Band: TBC

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.

At Bankside Gardens you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

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.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*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.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

Property Address

Open on Google Maps
  • Address Bankside Gardens - Plot 203
  • City Reading
  • County Berkshire
  • Postal Code RG2 6BW

Details

Updated on May 3, 2024 at 3:05 pm
  • Property ID: MS-124624
  • Rental Amount Per Month: £646/Month
  • Bedrooms: 2
  • Bathroom: 1
  • Property Type: Apartment
  • Property Status: For Sale, Shared Ownership
  • Estimated Monthly Service Charge (£): 270.90
  • Value Of The Equity Share: 25% / £93,750
  • Overall Property Value: £375,000
  • Tenure: Leasehold
  • Length of Lease: 990

Contact SOWN about: Shared Ownership in Reading, Berkshire 2 bedroom Apartment

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