Shared Ownership
This superb modern home is available to buy from as little as £140,000 with a 40% share!
This beautfifully presented first-floor apartment within a secure gated development built by Shanly Homes in 2019. The benefits from a bright and spacious open plan kitchen/living space, two good size double bedrooms with built in wardrobes, an ensuite shower room and family bathroom. There is allocated parking for one car and the balance of a 125-year lease.
This property is located on the skirts of Maidenhead town centre and within easy reach of local amenities and pleasant walks along the River Thames.
Maidenhead town centre provides a range of cafes, pubs and eateries and the Train Station provides 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: £350,000
40% Share Price: £140,000 (rent £713.67 pcm)
Minimum 5% Mortgage Deposit (35% share): £7,000
Approximate Service Charges: £157.17 pcm*
Shared Ownership Lease: approx. 119 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 £390,000 and a purchaser would not need to meet the eligibility criteria listed above.
