1 bedroom apartment for sale

Available

Lundy House, RG2 0GQ

£76,000 · Shared Ownership Resale

Share percentage 40%, full price £190,000, £3,800 Min Deposit.

Available
1 bedroom
1 Bathroom
Parking
Floor plan
floor-plan
Floor plan
floor-plan
£76,000 Shared Ownership Resale · Eligibility Eligibility

Share percentage 40%, full price £190,000, £3,800 Min Deposit.

Monthly Cost: £1,040
Rent £467, Service charge £140, Mortgage £433*

Calculated using a representative rate of 5.26%

Calculate estimated monthly costs

£
Eligibility

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.

** This home can also be purchased outright (100% of the value) which is £190,000 and a purchaser would not need to meet the eligibility criteria listed above.

Summary

This superb modern apartment is available to buy from as little as £76,000 with a 40% share!

Description

Offered to the market is this well-presented top floor apartment located within the Kennet Island development. The property benefits from having a double bedroom, a modern bathroom, an open plan kitchen/dining/living room and an allocated parking space.

The home is situated in the popular area of Kennet Island which is ideally located for easy access to Reading Town Centre which offers a variety of high street and designer shops, cafes and riverside restaurants. Access to J11 of the M4 and A33 to Basingstoke are easily accessible., there is a regular bus service into Reading town centre and the Hilton Hotel with its fitness facilities are only a short walk away.

PRICING & AFFORDABILITY

Approximate Size 46 sq m

Full Market Value: £190,000

40% Share Price: £76,000 (rent £466.60pcm)
Minimum 5% Mortgage Deposit (% share): £3,800
Approximate Service Charges: £140.05pcm*
Shared Ownership Lease: approx. 84 years
Council Tax Band: C

Key Features

Modern Shared Ownership home

Allocated parking

Open plan lounge/kitchen/diner

Excellent transport links

Double bedroom

Easy access to Reading town centre

Particulars

Tenure: Leasehold
Lease Length: 84 years
Council Tax Band: C

Property Downloads
Floor Plan
Map
Reading West (1.85 miles) Reading Station (1.99 miles) Earley (2.58 miles)
Monthly Cost Calculator

The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.

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  • 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.

£76,000
Shared Ownership Resale
Estimated Monthly Cost:£1,040
Rent £467
Service Charge £140
Mortgage £433

Share percentage 40%, full price £190,000, £3,800 Min Deposit. Calculated using a representative rate of 5.26%


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Disclaimer
The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.