Shared Ownership
This superb modern home is available to buy from as little as £96,000 with a 40% share!
A spacious first floor apartment that has accommodation including an open plan lounge/kitchen/diner, two bedrooms, bathroom and an allocated parking space.
Situated in the sought after area of Newbury, this location offers a fantastic blend of convenience and lifestyle. Residents benefit from close proximity to the bustling Parkway Shopping Centre, providing a wide range of shops, restaurants and everyday amenities, alongside charming independent cafés and eateries within the town centre. For those who enjoy the outdoors, the scenic Victoria Park and the picturesque Kennet and Avon Canal are both nearby, offering lovely green spaces and waterside walks.
Excellent transport links make this an ideal spot for commuters. Newbury Railway Station provides direct services to Reading and London Paddington, making journeys into the capital straightforward. The area is also well-connected by road, with easy access to the A34 and M4, offering convenient routes to Oxford, Basingstoke and beyond.
PRICING & AFFORDABILITY
Full Market Value: £240,000
40% Share Price: £96,000 (rent £388.93pcm)
Minimum 5% Mortgage Deposit (40% share): £4,800
Approximate Service Charges: £168.73pcm*
Lease:111 years remaining
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 £240,000 and a purchaser would not need to meet the eligibility criteria listed above.
