Shared Ownership
This superb modern home is available to buy from as little as £69,000 with a 30% share!
Located within the Kingsquarter Development on the skirts of Maidenhead town centre is this one bedroom elevated ground floor apartment. The property is offered to the market with no onward chain complications and the accommodation provides an entrance hall with storage, bathroom, double bedroom, spacious reception room and separate kitchen. Outside there are communal grounds and this apartment benefits from an allocated underground parking space. The lease will be extended to 990 years on completion.
This apartment is approximately half a mile from Maidenhead town centre and within easy reach of local amenities and pleasant walks along the River Thames.
Maidenhead provides a range of cafes, pubs and eateries and the Train Station provides regular direct links to London, Reading, Oxford and many other surrounding towns. The M4 & M40 motorway networks are also easily accessible.
PRICING & AFFORDABILITY
Full Market Value: £230,000
30% Share Price: £69,000 (rent £516.53 pcm)
Minimum 5% Mortgage Deposit (30% share): £3,450
Approximate Service Charges: £165.23 pcm*
Lease: 990 years on completion
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 £230,000 and a purchaser would not need to meet the eligibility criteria listed above.
