Shared Ownership



This brand new home is available to buy from as little as £130,000 with a 40% share!



Sterling Gardens is a fabulous collection of 1 & 2 bedroom shared ownership homes, situated within walking distance of Newbury train station. All homes within the development come with a right to park in a secure gated undercroft car park and there are fabulous `London-style' communal grounds which are the centre point of this superb development.



Nestled between the North Wessex Downs and Chiltern Hills, Newbury is an outstanding area of natural beauty. An extensive network of public footpaths ensures that within minutes of leaving the town centre you can be immersed in rolling countryside and woodland retreats.



With an easy commute to both Reading and London, Sterling Gardens is perfectly placed for work and leisure allowing residents the best of both worlds; avoiding the hustle and bustle of the city and instead experiencing the charm of countryside living. Direct trains to Reading take from 23 minutes and to London Paddington can take as little as 43 minutes. By car, Junction 13 of the M4 can be reached within 15 minutes'.



For a bit of retail therapy, Newbury offers a complementary blend of old and new. Big brand names sit side by side with small independent shops. Boutiques offering hidden gems meaning you never need to venture far. With a bi-weekly Market and monthly Farmers and Artisan Market locally sourced goods are a must for any foodie. With an easy commute to both Reading and London, Sterling Gardens is perfectly placed for work and leisure allowing residents the best of both worlds; avoiding the hustle and bustle of the city and instead experiencing the charm of countryside living.





PRICING & AFFORDABILITY



Full Market Value: £325,000



40% Share Price: £130,000 (rent £446.88pcm)

50% Share Price: £162,500 (rent £372.40pcm)

75% Share Price: £243,750 (rent £186.20pcm)



Minimum 5% Mortgage Deposit (40% share): £6,500

Approximate Service Charges: £222.07 pcm*

Shared Ownership Lease: 910 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 Sterling Gardens you can buy a minimum 40% 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.



; Service Charge: 2664.84 pa