2 bed Flat For Sale £104,000
Shared ownership
This apartment is available to buy for as little as £104,000 for a 40% share.
This first floor modern apartment is situated within the popular Kennet Island development, providing easy access to Reading town centre and J11 of the M4 motorway.
The accommodation comprises of a spacious open plan lounge/kitchen/diner with a private balcony, two bedrooms (master with an en suite) and a bathroom. Externally there is an allocated parking space with further visitor spaces available.
Pricing & affordability
Approximate Size 646 sq ft
Full Market Value: £260,000
40% Share Price: £104,000 (rent £462.04pcm)
Mortgage Deposit (40% share): £5,200
Approximate Service Charges: £129.76 pcm*
Council Tax Band: C
Lease: 86 Years Remaining
Eligibility
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 Thorney 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 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.
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.
This apartment is available to buy for as little as £104,000 for a 40% share.
This first floor modern apartment is situated within the popular Kennet Island development, providing easy access to Reading town centre and J11 of the M4 motorway.
The accommodation comprises of a spacious open plan lounge/kitchen/diner with a private balcony, two bedrooms (master with an en suite) and a bathroom. Externally there is an allocated parking space with further visitor spaces available.
Pricing & affordability
Approximate Size 646 sq ft
Full Market Value: £260,000
40% Share Price: £104,000 (rent £462.04pcm)
Mortgage Deposit (40% share): £5,200
Approximate Service Charges: £129.76 pcm*
Council Tax Band: C
Lease: 86 Years Remaining
Eligibility
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 Thorney 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 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.
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.
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