1 bedroom apartment for sale
Davy Place, RG12 2UR
Share percentage 40%, full price £215,000, £4,300 Min Deposit.
Share percentage 40%, full price £215,000, £4,300 Min Deposit.
Monthly Cost: £1,002
Rent £319,
Service charge £193,
Mortgage £490*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
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 £215,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £86,000 with a 40% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £86,000 with a 40% share!
This bright and spacious first floor apartment conveniently located on the edge of Bracknell Town Centre. There is a large double bedroom, bathroom, a light and airy kitchen and a spacious living/dining room with a door opening on to a private balcony. Further features include a communal roof terrace and an allocated parking space with additional visitors parking available.
This property is well situated on the skirts Bracknell Town centre and its’ many restaurants & amenities. Located just 1 mile from Bracknell train station and with easy access to the M4 & M3 and Lily Hill Park is within easy reach.
PRICING & AFFORDABILITY
Full Market Value: £215,000
40% Share Price: £86,000 (rent £318.87pcm)
Minimum 5% Mortgage Deposit (40% share): £4300
Approximate Service Charges: £192.98 pcm*
Shared Ownership Lease: approx. 88 years
Council Tax Band: B
Key Features
Modern shared ownership home
Double bedroom with fitted wardrobes
Allocated parking space
Balcony
Separate kitchen
Use of communal roof terrace
Particulars
Tenure: Leasehold
Lease Length: 88 years
Council Tax Band: B
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 40%, full price £215,000, £4,300 Min Deposit. Calculated using a representative rate of 5.26%