2 bedroom apartment for sale
Heathfield House, Carpenters Close, RG14 5AR
Share percentage 40%, full price £265,000, £5,300 Min Deposit.
Share percentage 40%, full price £265,000, £5,300 Min Deposit
Monthly Cost: £1,118
Rent £438,
Service charge £90,
Mortgage £590*
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 £265,000 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 £106,000 with a 40% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £106,000 with a 40% share!
A spacious and well-located two-bedroom ground floor flat in Newbury with easy access to an array of amenities and the motorway network. Built in 2019, the flat offers modern features and excellent natural light. Accommodation comprises an entrance hall with ample storage, two well proportioned bedrooms, a modern bathroom and a bright and spacious reception room and fully fitted kitchen. There is the balance of a long lease and two allocated parking spaces. NB. There is a digital image included of the main bedroom showing the completed wardrobe space.
Newbury offers a blend of historic charm and modern conveniences, making it an attractive location for both residents and commuters. There is a variety of shopping options across the town and many options for dining, drinking and social activities including Newbury Racecourse and The Watermill Theatre: A picturesque venue converted from a 200-year-old mill, retaining original features like the waterwheel and wooden beams.
Newbury is well-connected via the A34 and M4, facilitating easy access to London, Oxford, and other major towns. Newbury train station is operated by Great Western Railway, offering direct services to London Paddington, Reading, Oxford, and the West Country
PRICING & AFFORDABILITY
Full Market Value: £265,000
40% Share Price: £106,000 (rent £437.55 pcm)
Minimum 5% Mortgage Deposit (40% share): £5300
Approximate Service Charges: £89.54 pcm*
Key Features
Modern ground floor apartment
Nest controlled central heating
Two allocated parking spaces
Close to the canal with scenic walking
Walking distance to Newbury town centre
Small block of 5 apartments
Particulars
Tenure: Leasehold
Lease Length: 119 years
Council Tax Band: C
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 £265,000, £5,300 Min Deposit. Calculated using a representative rate of 5.03%
