Shared Ownership
This superb modern home is available to buy from as little as £108,000 with a 40% share!
Located within this contemporary racecourse development in Newbury, is this well-presented two bedroom, one bathroom apartment situated on the fourth floor of Hackwood House. The home benefits from a private balcony and an open-plan kitchen/living space, creating a light and sociable environment. There are two good-sized bedrooms, a modern bathroom, and an allocated parking space outside.
Hackwood House is just a short walk from Newbury town centre, with its 50+ shops, restaurants, pubs, cafés and cinema within the shopping centre. Newbury Racecourse railway station offers frequent services to Reading and, via the Elizabeth Line, into London Paddington in about 42 minutes.
Nearby Victoria Park offers green space, a boating lake, tennis courts, a skatepark, a bandstand, and a bowls club perfect for weekend leisure time. Local attractions include the Watermill Theatre, The Living Rainforest, and several golf clubs, such as Newbury & Crookham GC just a few miles away.
PRICING & AFFORDABILITY
Full Market Value: £270,000
40% Share Price: £108,000 (rent £441.78 pcm)
Minimum 5% Mortgage Deposit (40% share): £5400
Approximate Service Charges: £202.36 pcm*
Lease: 116 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 265,000 and a purchaser would not need to meet the eligibility criteria listed above.
