1 bedroom flat for sale
Drake Way, Reading
flat
bedroom
Property photos
+3
Property description
Shared Ownership
This superb modern apartment is available to buy from as little as £76,000 with a 40% share!
Offered to the market is this well-presented top floor apartment located within the Kennet Island development. The property benefits from having a double bedroom, a modern bathroom, an open plan kitchen/dining/living room and an allocated parking space.
The home is situated in the popular area of Kennet Island which is ideally located for easy access to Reading Town Centre which offers a variety of high street and designer shops, cafes and riverside restaurants. Access to J11 of the M4 and A33 to Basingstoke are easily accessible., there is a regular bus service into Reading town centre and the Hilton Hotel with its fitness facilities are only a short walk away.
PRICING & AFFORDABILITY
Approximate Size 46 sq m
Full Market Value: £190,000
40% Share Price: £76,000 (rent £466.60pcm)
Minimum 5% Mortgage Deposit (% share): £3,800
Approximate Service Charges: £140.05pcm*
Shared Ownership Lease: approx. 84 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 £190,000 and a purchaser would not need to meet the eligibility criteria listed above.
This superb modern apartment is available to buy from as little as £76,000 with a 40% share!
Offered to the market is this well-presented top floor apartment located within the Kennet Island development. The property benefits from having a double bedroom, a modern bathroom, an open plan kitchen/dining/living room and an allocated parking space.
The home is situated in the popular area of Kennet Island which is ideally located for easy access to Reading Town Centre which offers a variety of high street and designer shops, cafes and riverside restaurants. Access to J11 of the M4 and A33 to Basingstoke are easily accessible., there is a regular bus service into Reading town centre and the Hilton Hotel with its fitness facilities are only a short walk away.
PRICING & AFFORDABILITY
Approximate Size 46 sq m
Full Market Value: £190,000
40% Share Price: £76,000 (rent £466.60pcm)
Minimum 5% Mortgage Deposit (% share): £3,800
Approximate Service Charges: £140.05pcm*
Shared Ownership Lease: approx. 84 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 £190,000 and a purchaser would not need to meet the eligibility criteria listed above.
Interested in this property?
Council tax
First listed
2 weeks agoEnergy Performance Certificate
Drake Way, Reading
Marketed by
SOWN - National Crowthorne House, Nine Mile Ride Wokingham RG40 3GZPlacebuzz mortgage repayment calculator
Monthly repayment
The Est. Mortgage is for a 25 years repayment mortgage based on a 10% deposit and a 5.5% annual interest. It is only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.
Drake Way, Reading - Streetview
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