1 bedroom apartment for sale
Skippetts Gardens, RG21 3BY
Share percentage 40%, full price £135,000, £2,700 Min Deposit.
Share percentage 40%, full price £135,000, £2,700 Min Deposit
Monthly Cost: £638
Rent £186,
Service charge £159,
Mortgage £293*
Calculated using a representative rate of 4.78%
Calculate estimated monthly costs
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.
At Skippetts Gardens 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 100% of your home.
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.
LOCAL AREA CONNECTION
There is a local connection clause related to this property and this means that applications can only be received from someone with connection to the local area, via work, family or currently living in the borough in accommodation that does not fit their needs.
• Are ordinarily resident within the borough and in need of separate accommodation
• Are not resident in the borough but have a strong local connection (Consideration being given to family associations and/or earlier periods of residence).
• Through their work provide important services to the Borough and who need to live closer to the community or have employment within the Borough.
• Are resident in non self-contained accommodation
• Are living in a parental home in overcrowded conditions
• Are living in self-contained accommodation inadequate for their needs.
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 £54,000 with a 40% share.
Description
A well-presented one-bedroom apartment situated in the popular Skippetts Gardens development, ideally located for easy access to Basingstoke town centre and the mainline railway station. Positioned on an upper floor of a modern building with lift access.
Inside, the apartment offers a good-sized open-plan kitchen, living and dining area with plenty of natural light and space to arrange furniture comfortably, the living room further benefits from a Juliette balcony. The kitchen is fitted with modern unit, oven hob and extractor and the open-plan layout provides a sociable living space.
The bedroom is a well-proportioned double, and the bathroom is spacious and finished in a neutral style with a white suite. Two built-in cupboards in the hallway add useful storage options.
The apartment benefits from an allocated parking space.
This is a straightforward, low-hassle home in a well-connected location, just a short distance from local shops, parks, and transport links, including fast rail services to London.
PRICING & AFFORDABILITY
Approximate Size 47 sq m
Full Market Value: £135,000
40% Share Price: £54,000 (rent £185.63 pcm)
50% Share Price: £67,500,000 (rent £154.69 pcm)
75% Share Price: £101,250 (rent £77.34 pcm)
Minimum 5% Mortgage Deposit (40% share): £2,700
Approximate Service Charges: £158.65 pcm*
Shared Ownership Lease: 125 years
Council Tax Band: B
Key Features
Modern shared ownership apartment
Large bedroom
Lift
Allocated parking space
Juliette Balcony
Available immediately
Particulars
Tenure: Leasehold
Lease Length: 125 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 40%, full price £135,000, £2,700 Min Deposit. Calculated using a representative rate of 4.78%
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