Shared Ownership
This brand new home is available to buy from as little as £190,000 with a 40% share!
Lakeside Gardens is in Arborfield Green – a pretty, new garden village around a mile from the historic village of Arborfield Cross. It’s surrounded by beautiful Berkshire countryside but has excellent transport links. Which makes it ideal if you’re commuting ¬– or want a more relaxed pace without straying too far from the buzz of a city. With meadows and parks within a short walk, you can easily enjoy an outdoor life here. And yet you can be in Wokingham in 15 minutes, Reading in 23 minutes and central London in just over an hour.
Lakeside Gardens is part of a new community on the site of the former Arborfield Garrison. It sits among an established landscape, characterful buildings that have been restored for community use, and new woodland areas and wildlife habitats. Future plans for Arborfield Green include a convenience store, cafés, sports facilities, cycleways and allotments.
At Lakeside Gardens, you’re nestled between the breath-taking scenery of the North Wessex Downs, Surrey Hills, South Downs National Park and Chiltern Hills. Even closer to home, around a 10-minute walk away, is Hazebrouck Meadows with pretty wildflower meadows, ponds and a bat barn. This links to the beautiful California Country Park, spanning 100 acres of stunning landscape and featuring a lake, adventure play area, paddling pool, sensory garden and café. Wellington Country Park is also just a 13-minute drive away and offers everything from mini golf to a splash zone. At Dinton Pastures Country Park (a 12-minute drive) you can climb, sail, paddleboard and more.
This brand new three bedroom home has accommodation that includes an open plan kitchen/diner with a utility area, separate lounge, ground floor cloakroom, three bedrooms, bathroom, parking and a garden.
PRICING & AFFORDABILITY
Approximate Size 93 sq m
Full Market Value: £475,000
40% Share Price: £190,000 (rent £356.25pcm)
50% Share Price: £237,500 (rent £296.88pcm)
75% Share Price: £356,250 (rent £148.44pcm)
Minimum 5% Mortgage Deposit (40% share): £9,500
Approximate Service Charges: £75.67 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC
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.
At Lakeside Gardens you can buy a minimum 40% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
To be eligible for shared ownership you would need to meet the following criteria:
• Purchasers must live and/or work in the Wokingham Borough area in order to be eligible.
• 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.
Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.
*Service charges are estimated and may subject to change.
**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.
