2 bedroom apartment for sale
Russet Place, Oldfield Road, SL6 1BW
Share percentage 35%, full price £390,000, £6,825 Min Deposit.
Share percentage 35%, full price £390,000, £6,825 Min Deposit
Monthly Cost: £1,662
Rent £714,
Service charge £188,
Mortgage £760*
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 £390,000 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 £136,500 with a 35% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £136,500 with a 35% share!
This third-floor apartment within a secure gated development built by Shanly Homes in 2019. The property is well presented throughout and benefits from a bright and spacious open plan kitchen/living space, two good size double bedrooms with built in wardrobes, an ensuite shower room and family bathroom. There is allocated parking for one car and the balance of a 125-year lease.
This property is located on the skirts of Maidenhead town centre and within easy reach of local amenities and pleasant walks along the River Thames.
Maidenhead town centre provides a range of cafes, pubs and eateries and the Train Station provides direct links to London, Reading, Oxford and many other surrounding towns. The M4 & M40 motorway networks are also easily accessible.
PRICING & AFFORDABILITY
Full Market Value: £390,000
35% Share Price: £136,500 (rent £713.67 pcm)
Minimum 5% Mortgage Deposit (35% share): £6,825
Approximate Service Charges: £188.33 pcm*
Shared Ownership Lease: approx. 120 years
Council Tax Band: D
Key Features
Modern shared ownership home
Two double bedrooms
Top floor
Allocated parking
Beautifully presented throughout
Open plan living space
Close to town & station
Particulars
Tenure: Leasehold
Lease Length: 120 years
Council Tax Band: D
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 35%, full price £390,000, £6,825 Min Deposit. Calculated using a representative rate of 5.03%
.jpg "Floor Plan")