1 bedroom apartment for sale
Bourdillon Gardens, RG24 9GG
Share percentage 40%, full price £155,000, £3,100 Min Deposit.
Share percentage 40%, full price £155,000, £3,100 Min Deposit
Monthly Cost: £690
Rent £213,
Service charge £132,
Mortgage £345*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
ELIGIBILITY
**Local Connection to Basingstoke and Deane Required. There is a local connection clause related to this property and this means that applications can only be received from someone with connection to the local area, via work, family or currently living in the borough in accommodation that does not fit their needs.**
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright.
At Bourdillon Gardens you can buy a minimum 40% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
To be eligible for this shared ownership home you would need to meet the following criteria:
• Your 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.
Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.
*Service charges are estimated and may subject to change.
** These photos are for information purposes only have been digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images. Furniture is not included in the purchase price and the apartment is ‘sold as seen’.**
Summary
This home is available to buy from as little as £62,000 with a 40% share!
Description
Shared Ownership
This home is available to buy from as little as £62,000 with a 40% share!
Situated on the third floor of Bourdillon Gardens, this well-presented and generously sized one-bedroom apartment offers modern living with excellent features.
The property comprises an entrance hall, a bright dual-aspect open-plan kitchen/living/dining room, a spacious double bedroom with built-in storage, and a modern bathroom. A standout feature is the wraparound balcony/sun terrace, accessible from both the living area and the bedroom, providing the perfect space to relax or entertain.
Additional benefits include an allocated parking space, a lift within the building, a brand-new 125-year lease, and immediate availability.
PRICING & AFFORDABILITY
Approximate Size 42 sq m
Full Market Value: £155,000
40% Share Price: £62,000 (rent £213.13pcm)
50% Share Price: £77,500 (rent £177.60pcm)
75% Share Price: £116,250 (rent £88.80pcm)
Minimum 5% Mortgage Deposit (40% share): £3,100
Approximate Service Charges: £131.70 pcm*
Lease: this property will be given a new 125 year lease
Key Features
Allocated parking space
Shared Ownership apartment
Available immediately
Top floor
Sun terrace
Easy access to M3 and Basingstoke centre
Particulars
Tenure: Leasehold
Lease Length: 125 years
Council Tax Band: Not specified
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 40%, full price £155,000, £3,100 Min Deposit. Calculated using a representative rate of 5.03%
