2 bedroom apartment for sale
Engineers Court, Whitley Wood Lane, RG2 8AQ
Share percentage 35%, full price £240,000, £4,200 Min Deposit.
Share percentage 35%, full price £240,000, £4,200 Min Deposit.
Monthly Cost: £1,080
Rent £393,
Service charge £219,
Mortgage £468*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
Summary
A 2 bed shared ownership property available in Reading, Berkshire
Description
Cosy, bright & spacious two-bedroom apartment now available in Reading through Shared Ownership.
The property comprises a wide living room with an open-plan fitted kitchen, large storage rooms, a hall and two large bedrooms. This could be ideal for a small family.
The flat is on the second floor and it has allocated parking space and a shared garden area.
The advertised lease length is subject to a simultaneous lease extension upon completion at no cost to the buyer.
Available for £84,000 for 35% share based on the marketing figure of £240,000.
Monthly rent - £393.07
Monthly Service Charge - £218.71
Total Monthly Charge - £611.78 plus mortgage required for 35% share.
An annual rent increase takes place every April
LocationThe property sits in Whitley, in a tranquil residential area south of Reading. It's close to the town centre, about half an hour away via a direct bus, and to the University of Reading, at a similar distance.
Road travel is also convenient, thanks to the M4 and the A33, just a 5-minute drive away.
All amenities are nearby, with more pubs, restaurants and shops in Reading and in the Reading Gate Retail Park, less than a mile away and within walking distance.
There are also several schools in the area, many of which are within walking distance.
Plenty of parks and green areas can be found in the surroundings, thanks to the many lakes and the Fobney Island Nature Reserves.
EPC ratingEnergy rating band - C
Environmental impact band - B
Years remaining on lease: 974
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
- Two-bedroom apartment
- Storage rooms
- Close to M4 and A33
- Allocated parking
- Available for 35% 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 35%, full price £240,000, £4,200 Min Deposit. Calculated using a representative rate of 5.03%