Ducketts Mead, Shinfield, Reading

Shared Ownership

This superb modern home is available to buy from as little as £94,500 with a 45% share!

Conveniently located to allow easy access to the M4 is this ground floor apartment in Shinfield. The property sits within a well-maintained street of modern properties. This neat and tidy apartment offers a cozy living room, separate kitchen, bathroom and double bedroom. Outside there is allocated parking. Additional benefits include a very long lease and no onward chain complications.

Shinfield is located approximately 4.5 miles south of central Reading and there are frequent bus services running.
Shinfield itself provides some local amenities such as a cinema, Co-Op, Lidl and various pubs. There is also a pleasant village green and nature reserve. There is also easy access to nearby Woodley with a range of shops and amenities in the town centre.

PRICING & AFFORDABILITY

Full Market Value: £210,000

45% Share Price: £94,500 (rent £347.79pcm)
Minimum 5% Mortgage Deposit (45% share): £4,725
Approximate Service Charges: £154.76 pcm*
Lease: 973 years

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 £210,000 and a purchaser would not need to meet the eligibility criteria listed above.