1 bedroom apartment for sale
Jeffrey Place, Caversham Road, RG2 7AY
Share percentage 35%, full price £185,814, £3,252 Min Deposit.
Share percentage 35%, full price £185,814, £3,252 Min Deposit
Monthly Cost: £882
Rent £351,
Service charge £169,
Mortgage £362*
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 £185,814 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 £65,035 with a 35% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £66,500 with a 35% share!
A second floor apartment set within a gated development and situated in a highly sought after location, just a short walk from both Caversham and Reading centre along with Reading mainline train station which provides access to the Elizabeth Line and direct fast trains into London Paddington. No onward chain.
The accommodation includes an open plan lounge/kitchen/diner, a double bedroom with built-in storage and a bathroom. The block also benefits from a lift, a bike store and communal gardens.
Reading is one of the south east's largest towns only 25 minutes from London Paddington by train, with trains running every five minutes or so, Reading is home to many of the city's commuters. Reading also has easy links by road or rail to Swindon, Oxford, Basingstoke, Heathrow and farther afield.
Beyond the hive of commercial activity, Reading is nestled in the heart of Royal Berkshire offering beautiful riverside walks on the Thames and tow path ambles on the Kennet and Avon canals and with the nearby Berkshire Downs and Chilterns, beautiful countryside is never far away. Reading offers a rich mix of shops and markets. In the heart of the town, The Oracle has chic boutiques within a minute's walk there are many high-street favourites including John Lewis and Marks & Spencer. There are restaurants, cafes and brasseries to suit every taste in Reading. Plus there are numerous bars and restaurants on the Oracle Riverside.
PRICING & AFFORDABILITY
Full Market Value: £190,000
35% Share Price: £65,035
Rent on remaining share: £350.92 pcm
Minimum 5% Mortgage Deposit (35% share): £3,251.75
Approximate Service Charges: £169.03 pcm*
Shared Ownership Lease: approx. 81 years
Council Tax Band: B
Key Features
Modern Shared Ownership home
Walking distance to Reading mainline station & The Oracle
Open plan lounge/kitchen/diner
Gated development
Chain-free
Double bedroom
Particulars
Tenure: Leasehold
Lease Length: 81 years
Council Tax Band: B
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 £185,814, £3,252 Min Deposit. Calculated using a representative rate of 5.03%
