Beatty Rise, Spencers Wood, Reading

Shared Ownership

This superb modern home is available to buy from as little as £168,750 with a 75% share!

Situated in the popular residential area of Beatty Rise, Spencers Wood, this well presented first floor apartment offers comfortable and practical living. The property benefits from a thoughtfully arranged layout, with a spacious open plan living and dining room, separate kitchen, two bedrooms and a family bathroom. The apartment enjoys a bright and airy feel throughout and is set within a well maintained development with communal gardens and an allocated parking space.

Spencers Wood is a highly regarded village offering a strong sense of community alongside a range of everyday amenities. The area benefits from local shops, convenience stores, cafés and public houses, as well as nearby supermarkets for larger shopping needs. For outdoor enthusiasts, there are pleasant green spaces, countryside walks and recreational facilities close by, providing an excellent balance between village living and access to open surroundings.

The property is ideally positioned for commuters, with excellent transport connections. Easy access to the A33 provides a direct route into Reading town centre, while the M4 motorway (Junctions 10 and 11) is within convenient reach, offering swift links to London, the Thames Valley and the wider motorway network. Reading Station, with its fast and frequent rail services including the Elizabeth Line, offers direct connections to London Paddington, Canary Wharf and Heathrow Airport, making this an ideal location for those needing reliable commuter links.

PRICING & AFFORDABILITY

Full Market Value: £225,000

75% Share Price: £168,750 (rent £216.75pcm)
Minimum 5% Mortgage Deposit (75% share): £8,438
Approximate Service Charges: £130.06 pcm*
Lease: 971 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. 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 £225,000 and a purchaser would not need to meet the eligibility criteria listed above.