Property Details

1 bedroom apartment for sale For Sale

Engineers Court, Whitley Wood Lane, Reading, RG2

£95,000

ROI = 0% BMV = 0%

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Description

Shared Ownership This superb modern home is available to buy from as little as £95,000 with a 50% share! A second floor apartment providing well presented, spacious accommodation. There is a large double bedroom with buillt in wardrobe space, bathroom and an impressive open plan kitchen/living/dining space. Outside, there is an allocated parking space. Whitley Wood is a residential area in Reading, Berkshire, offering a variety of amenities and services to its residents. Situated on the eastern side of Reading, Whitley Wood is bordered by the A33 road to the north and the River Kennet to the south. Residents have access to local convenience stores and a supermarket for everyday needs. Additionally, there are several smaller shops and a post office in the vicinity. The area is well-served by bus routes connecting to Reading town centre. For drivers, the M4 motorway is easily accessible, offering excellent road links to London and other major cities. PRICING & AFFORDABILITY Full Market Value: £190,000 50% Share Price: £95,000 (rent £296.78 pcm) Minimum 5% Mortgage Deposit (50% share): £4,750 Approximate Service Charges: £211.04 pcm* Shared Ownership Lease: approx. 975 years (extended on completion) Council Tax Band: B 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. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year. ** This home can also be purchased outright (100% of the value) which is £190,000 and a purchaser would not need to meet the eligibility criteria listed above.

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