Shared Ownership

A beautifully presented two bedroom apartment on the ground floor of this sought-after development in Arborfield Green. The accommodation provides two large double bedrooms, the kitchen is fitted with appliances and is open plan with a bright and spacious reception room with doors on to a private garden overlooking green space. Further benefits include a long lease and allocated parking.

Arborfield Green is situated in between Wokingham and Reading providing easy access to both town centres and their amenities. Nearby Arborfield Cross village provides local facilities including a pub, a recreational ground and scenic countryside. Wellington Country Park is also a short drive from the property.

PRICING & AFFORDABILITY

Full Market Value: £315,000

50% Share Price: £157,500 (rent £473.13 pcm)
Minimum 5% Mortgage Deposit (50% share): £7,875
Approximate Service Charges: £150 pcm*
Shared Ownership Lease: approx. 121 years
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 £315,000 and a purchaser would not need to meet the eligibility criteria listed above.

Service Charge: 2115.6.