2 bed Flat For Sale £87,250
Sterling Square, 2 Silver Street, Reading RG1
previous price £139,600

Shared Ownership

This brand new home is available to buy from as little as £139,600 with a 40% share!

Sterling Square is a superb development of brand new apartments, situated in the heart of Reading and just a few minutes’ walk from The Oracle shopping centre. The mainline train station is just a short stroll from the apartments with direct fast trains to London Paddington in under 30 minutes’. By car, Junction 11 of the M4 is easily accessible.

Reading is considered a key regional and commercial location for the Thames Valley, it’s already home to a number of world-class employers including Microsoft, Bayer, Prudential and Thames Water. For relaxation there is a wide range of restaurants and bars along with a Vue Cinema, The Hexagon theatre and of course, the annual world renowned Reading Festival that attracts the biggest music names to this thriving town over the August Bank Holiday weekend.

Step inside the front entrance to Silver Street Apartments and you’re immediately taken by the welcoming lobby area, with its full height glazing creating a light, open space. Take the lift (or the stairs if you prefer) to your chosen apartment and take a look around a home with a warm, comfortable feeling that is perfectly suited for 21st Century urban living.

Located on the third floor, this brand new shared ownership home benefits from a superb open plan lounge/kitchen/diner with access to a private balcony, two bedrooms and bathroom. There is a lift within the block and the apartment also comes with 'right-to-park' parking.

Pricing & affordability

Approximate Size 62.52 sq m
Full Market Value: £349,000

40% Share Price: £139,600 (rent £479.88pcm)
50% Share Price: £174,500 (rent £399.90pcm)
75% Share Price: £261,750 (rent £199.95pcm)

Minimum 5% Mortgage Deposit (40% share): £6,980

Approximate Service Charges: £140.03 pcm*

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 Sterling Square 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 household income does not exceed £80,000 (outside of London) and £90,000 (inside of London)
• 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.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They have been taken from similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

Leaders Romans Group are selling the homes on behalf of Sage Housing. Sage Housing is a Registered Provider committed to providing high quality affordable homes across England. For more information on Sage Housing visit .