House For Sale £177,500
Gabriels Square, Lower Earley, Reading

Shared Ownership

This superb modern home is available to buy from as little as £177,500 with a 50% share!

The property benefits from driveway parking and has accommodation that includes: entrance hall, cloakroom, an open plan lounge/diner, separate kitchen, two double bedrooms, bathroom and an enclosed private garden with sunny aspect.

Gabriels Square is well situated for access to the M4 and A329, along with local amenities and bus links into Reading town centre where the upgraded mainline train station now offers the Elizabeth line with regular direct trains into central London and a fast train to London Paddington in under 30 minutes. Maiden Place where there is a Sainsbury’s Local, a pharmacy, eateries and a play park is approximately half a mile on foot. The Asda supercentre and Loddon Valley Leisure Centre are also within walking distance, as are schooling options, including Hawkedon and Loddon Primary School.

PRICING & AFFORDABILITY

Approximate Size 776 sq ft

Full Market Value: £355,000

50% Share Price: £177,500 (rent £445.48pcm)
Minimum 5% Mortgage Deposit (50% share): £8,875
Approximate Service Charges: £66.63pcm*
Shared Ownership Lease: approx. 81 years
Council Tax Band: C

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.

* This home can also be purchased outright (100% of the value) which is £355,000 and a purchaser would not need to meet the eligibility criteria listed above.