1 bedroom apartment for sale
Selkirk House, Kingman Way, RG14 7GP
Share percentage 40%, full price £215,000, £4,300 Min Deposit.
Share percentage 40%, full price £215,000, £4,300 Min Deposit
Monthly Cost: £1,007
Rent £367,
Service charge £173,
Mortgage £467*
Calculated using a representative rate of 4.78%
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 £215,000 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 £86,000 with a 40% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £86,000 with a 40% share!
Located within this contemporary racecourse development in Newbury, is this well presented one bedroom apartment with a private balcony. The modern, open plan accommodation provides a fitted kitchen/living space, good size double bedroom and a bathroom. Outside there is an allocated parking space.
Selkirk House is just a short walk from Newbury town centre and its 50+ shops, restaurants & pubs, cafes and a cinema within the shopping centre. Newbury Racecourse railway station, offers frequent services to Reading, and via theElizabethLine into London Paddington in about 42 minutes.
Nearby Victoria Park offers green space, a boating lake, tennis courts, skatepark, a bandstand, and bowls club—ideal for weekend leisure time. Nearby attractions include the Watermill Theatre, The Living Rainforest, and several golf clubs such as Newbury & Crookham GC just a few miles away
PRICING & AFFORDABILITY
Full Market Value: £215,000
40% Share Price: £86,000 (rent £366.58 pcm)
Minimum 5% Mortgage Deposit (40% share): £4,300
Approximate Service Charges: £172.89 pcm*
Lease: 92 years
Key Features
Modern shared ownership apartment
Newbury Racecourse development
Third floor
Allocated parking
Balcony
Close to town & station
Particulars
Tenure: Leasehold
Lease Length: 92 years
Council Tax Band: C
Map
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 £215,000, £4,300 Min Deposit. Calculated using a representative rate of 4.78%
