2 bed Flat For Sale £100,000
Enborne Road, Newbury, Berkshire

Shared Ownership

This superb modern apartment is available to buy from as little as £100,000 with a 40% share!

A smartly presented ground floor conversion apartment in the exclusive St. Bartholomew's School conversion. The property has allocated parking, communal gardens and is conveniently placed for the Newbury town centre and train station. Being offered to the market with no onward chain, the accommodation includes a stunning 18ft x 18ft open plan lounge/kitchen/diner, two bedrooms and a bathroom.

As well as being home to Newbury Racecourse, the town itself offers a comprehensive range of shopping, leisure and educational facilities. Newbury is the headquarters of Vodafone UK and offers a railway station on the direct line to London Paddington (fast train to Paddington has an approx. travel time of 41 minutes). There are also excellent road links via the A34 and M4 motorway, a convenient commute for those working in Reading, Oxford and Southampton.

PRICING & AFFORDABILITY

Full Market Value: £250,000

40% Share Price: £100,000 (rent £343.75pcm)
Minimum 5% Mortgage Deposit (40% share): £5,000
Approximate Service Charges: £179.01pcm*
Shared Ownership Lease: approx. 112 years
Council Tax Band:

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.

Local Connection to Newbury/West Berkshire required. 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 Newbury/West Berkshire borough in accommodation that does not fit their needs.

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.