1 bedroom apartment for sale
Collins Drive, Reading, RG6 5AE
Share percentage 55%, full price £220,000, £6,050 Min Deposit.
Share percentage 55%, full price £220,000, £6,050 Min Deposit.
Monthly Cost: £1,045
Rent £177,
Service charge £194,
Mortgage £674*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
Summary
A 1 bed shared ownership property available in Reading, Berkshire
Description
Modern, eco-friendly, traditional mason-inspired one-bedroom apartment now available in Earley, Reading, through Shared Ownership.
The property comprises a living room with an open-plan modern fitted kitchen, a hallway with a storage room and a bathroom. This could be ideal for a couple or a single person.
The flat was built in 2015 and is on the first floor. It also benefits from a garage for a car.
Available for £121,000 for 55% share based on the marketing figure of £220,000.
Monthly rent - £177.25
Monthly Service Charge - £193.87
Total Monthly Charge - £371.12 plus mortgage required for 55% share.
An annual rent increase takes place every April
LocationThe property is situated in a traditional residential area and surrounded by similar apartment blocks. All the necessary amenities are available nearby and Reading's city centre can be reached just within a 10-minute drive.
Moreover, there is a nature reserve located just around the corner from the development, and a large supermarket is just a 10-minute walk away, along with other shops and quick-bite eateries.
EPC ratingEnergy rating band - B
Environmental impact band - B
Gross internal floor area: 48 m²
Living room & kitchen: 5.74 x 3.89 m
Bedroom: 4.34 x 2.59 m
Hallway: 4.27 x 3.02 m
Years remaining on lease: 90
In certain cases, the remaining length of the lease on a property can impact the availability of mortgages to prospective purchasers and the future saleability of the home. We recommend that you speak to your solicitor and your financial advisor to ensure that the lease length is suitable for your needs.
Key Features
- One-bedroom apartment
- Modern building (2015)
- Traditional maisonette style
- Garage
- Available for 55% share
- 5% minimum deposit only
Particulars
Tenure: Not specified
Council Tax Band: Not specified
Property Downloads
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 55%, full price £220,000, £6,050 Min Deposit. Calculated using a representative rate of 5.03%
