2 bedroom apartment for sale
Flat 3, Girling House, 8 Glover Crescent, RG2 9TU
Share percentage 50%, full price £305,000, £7,625 Min Deposit.
Share percentage 50%, full price £305,000, £7,625 Min Deposit.
Monthly Cost: £1,356
Rent £390,
Service charge £117,
Mortgage £849*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:
- Not own another property in the UK or any other country.
- Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
- Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
- Be in full time permanent employment.
- Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
- Have a good credit history.
Summary
2-bedroom Shared Ownership resale available in Wokingham
Description
A smartly presented and well proportioned flat on the first floor of this recently constructed building. The property has a twenty three foot, dual-aspect reception room with attractive flooring and open-plan kitchen featuring sleek, white units and integrated appliances.Double doors lead out onto a south/south-west-facing balcony.
There is a main bedroom with fitted, mirror fronted wardrobe and ensuite shower room plus a second good sized bedroom, a naturally lit bathroom and some useful hallway storage space. Demanding insulation standards and high performance glazing have resulted in a very good energy efficiency rating.
The flat comes with use of a parking space and is approximately four miles from Wokingham, around six miles from junction 11 of the M4 and roughly eight miles from Reading town centre.
*Information is correct to the best of our knowledge, please speak to the estate agent for more information*
Key Features
- Guideline Minimum Deposit £15,750
- Guideline Income £44.1k Dual | £50.4k Single
- First Floor
- Approx. 772 Sqft Gross Internal Area
- High Performance Glazing
- Bathroom plus Ensuite Shower Room
- South/South-West-Facing Balcony
- Parking Space
- Tenure:Leasehold (125 years from 2021).
- Share Available:50% (£157,500).
- Shared Ownership Rent:£390.04 per month (subject to annual review).
- Service Charge + Management Fee:£116.52 per month (subject to annual review).
- Guideline Minimum Income:Dual - £44,100 | Single - £50,400 (based on minimum share and 10% deposit).
- Council Tax:Band C, Wokingham Borough Council. Priority is given to applicants living and/or working in this local authority.
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: C
Property Downloads
Key Information Document Floor PlanMap
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- Rent: This is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes).
- Service Charge: Covers maintenance and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 50%, full price £305,000, £7,625 Min Deposit. Calculated using a representative rate of 5.03%
