Shared Ownership
This superb modern home is available to buy from as little as £122,500 with a 50% share!
This two bedroom apartment located close to Crowthorne village centre is offered to the market with no onward chain. The accommodation comprises of a large living room, separate kitchen, two bedrooms and a bathroom. There is an allocated parking space and the lease will be extended to 967 years on completion.
Crowthorne Village benefits from a broad mix of shops, restaurants and amenities. There is a train station and convenient access to the A329 and M4 & M3 motorway networks. Crowthorne is situated approximately 4.5 miles from Bracknell and Wokingham is also under 5 miles away.
PRICING & AFFORDABILITY
Full Market Value: £245,000
50% Share Price: £122,500 (rent £330.43 pcm)
Minimum 5% Mortgage Deposit (50% share): £6,125
Approximate Service Charges: £141.40 pcm*
Shared Ownership Lease: approx. 967 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 £245,000 and a purchaser would not need to meet the eligibility criteria listed above.
