Shared Ownership in Reading, Berkshire 2 bedroom. Semi-Detached House

  • £500,000

    Equity share: 30% / £150,000

Magna Gardens - Plot 12
For Sale Shared Ownership

Shared Ownership in Reading, Berkshire 2 bedroom. Semi-Detached House

Magna Gardens - Plot 12
  • £500,000

    Equity share: 30% / £150,000

Property Overview

  • Semi-Detached House
  • Property Type
  • 2
  • Bedrooms
  • 1
  • Bathroom

Property Description

Shared Ownership

This brand new home is available to buy from as little as £225,000 with a 50% share!

Magna Gardens offers an enviable quality of life in this sought-after riverside village. Family-friendly facilities, stunning countryside on your doorstep and a welcoming community make Purley on Thames an idyllic location. Enjoy the excellent travel links to London and beyond or explore the neighbouring North Wessex Downs, an Area of Outstanding Natural Beauty.

The charming and quaint riverside village of Pangbourne is less than 2 miles away and offers plenty of character, with individual shops, a selection of award winning restaurants, pubs and café’s.

The bustling university town of Reading is less than 5 miles from Magna Gardens. Here you’ll find a theatre, cinemas and a host of entertainment and sports options. The town’s Oracle shopping centre is home to big name stores and independent shops. Located just over 5 miles from Reading train station, offering fast trains to Paddington in just 23 minutes, the Elizabeth line service into the City, and direct trains to the West Country. The wider motorway network is easily accessed via the M4.

The open plan Kitchen/living/dining room, with its attractive French doors leading out to the garden, is the heart of this family home. On the first floor, there are two double bedrooms with built in wardrobes and a stylish family bathroom. Externally there are two parking spaces and a garden with side access.

PRICING & AFFORDABILITY

Approximate Size 849 sq ft

Full Market Value: £500,000

30% Share Price: £150,000 (rent £802.08pcm)
50% Share Price: £225,000(rent £572.92pcm)
75% Share Price: £375,000 (rent £286.46pcm)

Minimum 5% Mortgage Deposit (30% share): £7,500
Approximate Service Charges: £49.12pcm*
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 Magna Gardens you can buy a minimum 30% 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.

**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 Magna Gardens - Plot 12
  • City Reading
  • County Berkshire
  • Postal Code RG8 8AA

Details

Updated on July 10, 2024 at 4:15 pm
  • Property ID: MS-128023
  • Rental Amount Per Month: £802/Month
  • Bedrooms: 2
  • Bathroom: 1
  • Property Type: Semi-Detached House
  • Property Status: For Sale, Shared Ownership
  • Estimated Monthly Service Charge (£): 49.12
  • Value Of The Equity Share: 30% / £150,000
  • Overall Property Value: £500,000
  • Tenure: Leasehold

Contact SOWN about: Shared Ownership in Reading, Berkshire 2 bedroom. Semi-Detached House

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