2 bedroom apartment for sale
Lea House, Southend Road, RG7 6EY
Share percentage 40%, full price £215,000, £4,300 Min Deposit.
Share percentage 40%, full price £215,000, £4,300 Min Deposit
Monthly Cost: £813
Rent £296,
Service charge £50,
Mortgage £467*
Calculated using a representative rate of 4.78%
Calculate estimated monthly costs
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 Lea House 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 80% of your home. PLEASE NOTE THAT THERE IS A TAIRCASING RESTRICTION WHICH MEANS YOU WILL NOT BE ABLE TO OWN MORE THAN AN 80% SHARE.
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.
Summary
This home is available to buy from as little as £86,000 with a 40% share!
Description
Situated in the sought-after village of Bradfield Southend, this well-proportioned two-bedroom maisonette offers spacious living and a peaceful, semi-rural setting.
Accessed via a private entrance, the ground floor has an entrance hall with understairs cupboard, stairs leading up to a dual aspect entrance hall, perfect for storage and then then the mainaccommodation is arranged over the first floor and includes two double bedrooms, a family bathroom, and a generous living/dining room that opens into a neatly designed kitchen tucked just around the corner – perfect for modern living with defined spaces.
Externally, the property benefits from an allocated parking space, access to a communal garden, and a private shed providing additional storage.
Located within a desirable village community, Lea House offers a great opportunity for first-time buyers, downsizers, or investors looking for a well-laid-out home in a charming and accessible location. Bradfield Southend enjoys a semi-rural feel while being just outside of Reading, offering the best of both worlds – countryside living with easy access to the town’s amenities, transport links, and employment hubs.
Please note: This property is subject to an 80% staircasing restriction, meaning the maximum share that can be purchased is 80%. Full ownership is not permitted.
PRICING & AFFORDABILITY
Approximate Size 42 sq m
Full Market Value: £215,000
40% Share Price: £86,000 (rent £295.63pcm)
50% Share Price: £107,500 (rent £246.35pcm)
75% Share Price: £161,250 (rent £123.18pcm)
Minimum 5% Mortgage Deposit (40% share): £4,300
Approximate Service Charges: £50.39 pcm*
Lease: this property will be given a new 125 year lease
Key Features
Two-bedroom first-floor maisonette
Private ground-floor entrance with understairs storage
Spacious dual-aspect hallway
Two double bedrooms and a family bathroom
Open-plan living/dining room with kitchen set around the corner
Allocated parking space and private shed
Access to communal gardens
Located just outside Reading in the village of Bradfield Southend
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: Yes - Allocated
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 £215,000, £4,300 Min Deposit. Calculated using a representative rate of 4.78%
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