Shared Ownership
This modern shared ownership home is available to buy from as little as £155,000 with a 50% share!
Set in an enviable location in a sought after development within Arborfield Green is this modern first-floor apartment which boasts two double bedrooms, two bathrooms (one en suite) and an open plan living accommodation that consists of a living/dining room which leads seamlessly on to a fitted kitchen, complete with integrated appliances a good range of base and eye level units.
The living accommodation is flooded with natural light created by the dual aspect windows and further benefits from double doors leading to a balcony,
Situated in a sought-after location with excellent transport links and amenities nearby, this property is sure to be of interest to a wide range of prospective purchasers.
PRICING & AFFORDABILITY
Full Market Value: £310,000
50% Share Price: £155,000 (rent £491.92pcm)
Minimum 5% Mortgage Deposit (50% share): £7,750
Approximate Service Charges: £150 pcm*
Lease: 120 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 £310,000 and a purchaser would not need to meet the eligibility criteria listed above.
