Shared Ownership

This superb modern home is available to buy from as little as £142,500 with a 50% share!

Located just outside of Reading town centre is this two bedroom first floor apartment. This well presented property provides spacious accommodation comprising two double bedrooms, two bathrooms, and 22ft open plan kitchen/living/dining room. The property is being sold with an extended lease on completion and benefits from an allocated underground parking space.

The property is only a short walk from all the local amenities, such as cinemas, shops, restaurants, local schools, hotels, and supermarkets, in the centre of Reading. It is also within a 10-minute walking distance to the Reading train station and close to the A33 highway.

PRICING & AFFORDABILITY

Full Market Value: £285,000

50% Share Price: £142,500 (rent £471.13pcm)
Minimum 5% Mortgage Deposit (50% share): £7,125
Approximate Service Charges: £167.98pcm*
Shared Ownership Lease: approx. 975 years (extended on completion)
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. 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 £285,000 and a purchaser would not need to meet the eligibility criteria listed above.