Shared Ownership
This superb modern home is available to buy from as little as £120,000 with a 50% share!
Situated on the second floor of the popular Sydenham House development, this well-presented two-bedroom apartment offers approximately 713 sq ft of bright and spacious accommodation in the heart of Reading. The property features a generous living room with access to a private balcony, a separate fitted kitchen, two well-proportioned double bedrooms, a modern bathroom and useful storage throughout. The property also benefits from an allocated parking space within a secure car park
Ideally located in Reading town centre, the property is just a short walk from The Oracle Shopping Centre, a fantastic selection of restaurants, cafés, bars and leisure facilities, as well as the picturesque Kennet and Avon Canal. Reading is renowned for its vibrant town centre, excellent amenities and thriving business district, making it a highly desirable place to live.
For commuters, Reading Station is within easy walking distance, offering Elizabeth Line, Great Western Railway and CrossCountry services, with direct trains to London Paddington in around 25 minutes, as well as excellent connections to Oxford, Bristol and the South West. The property also benefits from convenient access to the M4 motorway, making it ideal for those travelling by road.
PRICING & AFFORDABILITY
Full Market Value: £240,000
50% Share Price: £120,000 (rent £515.29pcm)
Minimum 5% Mortgage Deposit (50% share): £6,000
Approximate Service Charges: £212.19pcm*
Lease: 163 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/£90,000.
• 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.
