Shared Ownership
This superb modern home is available to buy from as little as £65,035 with a 35% share!
A second floor apartment set within a gated development and situated in a highly sought after location, just a short walk from both Caversham and Reading centre along with Reading mainline train station which provides access to the Elizabeth Line and direct fast trains into London Paddington. No onward chain.
The accommodation includes an open plan lounge/kitchen/diner, a double bedroom with built-in storage and a bathroom. The block also benefits from a lift, a bike store and communal gardens.
Reading is one of the south east's largest towns only 25 minutes from London Paddington by train, with trains running every five minutes or so, Reading is home to many of the city's commuters. Reading also has easy links by road or rail to Swindon, Oxford, Basingstoke, Heathrow and farther afield.
Beyond the hive of commercial activity, Reading is nestled in the heart of Royal Berkshire offering beautiful riverside walks on the Thames and tow path ambles on the Kennet and Avon canals and with the nearby Berkshire Downs and Chilterns, beautiful countryside is never far away. Reading offers a rich mix of shops and markets. In the heart of the town, The Oracle has chic boutiques within a minute's walk there are many high-street favourites including John Lewis and Marks & Spencer. There are restaurants, cafes and brasseries to suit every taste in Reading. Plus there are numerous bars and restaurants on the Oracle Riverside.
PRICING & AFFORDABILITY
Full Market Value: £185,814
35% Share Price: £65,035
Rent on remaining share: £350.92 pcm
Minimum 5% Mortgage Deposit (35% share): £3,251.75
Approximate Service Charges: £169.03 pcm*
Shared Ownership Lease: approx. 81 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 £185,814 and a purchaser would not need to meet the eligibility criteria listed above.
