3 bedroom house for sale
Kirk Close, Tilehurst, RG31 6AH
Share percentage 50%, full price £530,000, £13,250 Min Deposit.
Share percentage 50%, full price £530,000, £13,250 Min Deposit
Monthly Cost: £2,321
Rent £821,
Service charge £24,
Mortgage £1,476*
Calculated using a representative rate of 5.03%
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 £530,000 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 £265,000 with a 50% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £265,000 with a 50% share!
A rarely available three-bedroom family home located in Tilehurst. This home provides spacious accommodation over three floors and benefits from a driveway to the front and a private garden at the rear. On the ground floor there is a kitchen/dining room, utility, downstairs cloakroom and a study/fourth bedroom. On the first floor there is a living room and a double bedroom with en-suite bathroom. There are two further double bedrooms and a bathroom on the second floor.
Tilehurst is located approximately 3 miles west of the town centre of Reading. It is well connected by road and rail to Reading and beyond, making it an attractive residential location for people who work in Reading or London.
Tilehurst has its own village centre with local shops, pubs, and restaurants. It provides a more peaceful, community-focused setting compared to the busier town centre of Reading.
PRICING & AFFORDABILITY
Full Market Value: £530,000
50% Share Price: £265,000 (rent £820.56 pcm)
Minimum 5% Mortgage Deposit (50% share): £13,250
Approximate Service Charges: £24pcm*
Shared Ownership Lease: TBC
Council Tax Band: E
Key Features
Modern shared ownership home
Three/four bedrooms
Kitchen/dining room
Two bathrooms
Utility room
Driveway & garden
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: E
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: n/a
Outside Space/Garden: n/a
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
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 £530,000, £13,250 Min Deposit. Calculated using a representative rate of 5.03%
