2 bed Flat For Sale £122,500
SHARED OWNERSHIP
This property is available to buy for as little as £122,500 for a 50% share.
Offered to the market stands this well presented 2 bedroom, 3rd floor apartment in the sought after development close to central Reading in The Meridian.
This apartment features an entrance hall with storage space, two double bedrooms with an en suite bathroom in the master, family bathroom and an open plan kitchen/living room.
The property further benefits from secure fob entry access, is available immediately and has a lease over 100 years.
PRICING AND AFFORDABILITY
Full market Value: £245,000
Rent (50% share): £463.33 pcm
Service charge: £216.71 pcm
Lease: Approx. 109 years remaining
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 £245,000 and a purchaser would not need to meet the eligibility criteria listed above.
