Shared Ownership

This superb modern home is available to buy from as little as £265,000 with a 50% share!

A rarely available three-bedroom family home located in Tilehurst. This home provides spacious accommodation over three floors and benefits from a driveway to the front and a private garden at the rear. On the ground floor there is a kitchen/dining room, utility, downstairs cloakroom and a study/fourth bedroom. On the first floor there is a living room and a double bedroom with en-suite bathroom. There are two further double bedrooms and a bathroom on the second floor.

Tilehurst is located approximately 3 miles west of the town centre of Reading. It is well connected by road and rail to Reading and beyond, making it an attractive residential location for people who work in Reading or London.
Tilehurst has its own village centre with local shops, pubs, and restaurants. It provides a more peaceful, community-focused setting compared to the busier town centre of Reading.

PRICING & AFFORDABILITY

Full Market Value: £530,000

50% Share Price: £265,000 (rent £820.56 pcm)
Minimum 5% Mortgage Deposit (50% share): £13,250
Approximate Service Charges: £24pcm*
Shared Ownership Lease: 91
Council Tax Band: E

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 £530,000 and a purchaser would not need to meet the eligibility criteria listed above.