Shared Ownership

This superb modern home is available to buy from as little as £75,000 with a 50% share!

Offered for sale with no onward chain complications is this fifth floor apartment which would benefit from some updating and modernisation. The spacious accommodation comprises entrance hall, bathroom, double bedroom, a large reception room and a separate kitchen. The property is centrally located with direct pedestrian access into Festival Place and within a short walk of the main line station.

Basingstoke is well equipped with local amenities and convenient for transport links via train and the M3. Festival Place is a major shopping centre offering a wide range of retail stores, dining options, and a Vue cinema.
Basingstoke Railway Station is the main transport hub, offering frequent services to London and surrounding areas.
Direct trains run to London Waterloo in around 45 to 50 minutes.
Trains to Reading take about 25 minutes, connecting you to major routes across the country.

PRICING & AFFORDABILITY

Full Market Value: £150,000

50% Share Price: £75,000 (rent £231.73 pcm)
Minimum 5% Mortgage Deposit (50% share): £3,750
Approximate Service Charges: £210.88 pcm*
Shared Ownership Lease: approx. 131 years
Council Tax Band: B

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 £150,000 and a purchaser would not need to meet the eligibility criteria listed above.
Service Charge: 2530.56.