Shared Ownership

This superb modern home is available to buy from as little as £156,000 with a 60% share!

This one bedroom first floor apartment is located in Emmbrook, Wokingham. The property provides bright and spacious accommodation comprising entrance hall with storage, a modern fitted kitchen open plan with a living/dining space and doors to a private balcony, bathroom and large double bedroom with built in wardrobes. Outside, there are communal grounds, bike storage and an allocated parking space.

This property is located just over 1 mile from the centre of Wokingham and a host of amenities, shops and eateries.
Wokingham Train Station provides regular links to London Waterloo in under 1 hour. There are also many local bus routes with services to Reading and Bracknell. Wokingham sits just east of the A329m which links directly to the M4 and there are other efficient roads for easy access to neighbouring towns such as Reading, Bracknell and Guildford.


PRICING & AFFORDABILITY

Full Market Value: £260,000

60% Share Price: £156,000 (rent £273.46 pcm)
Minimum 5% Mortgage Deposit (60% share): £7,800
Approximate Service Charges: £96.21 pcm*
Lease: 117 years

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 £260,000 and a purchaser would not need to meet the eligibility criteria listed above.
Service Charge: 1154.52.