Shared ownership at Thorney House, Reading, RG2 0GZ

Thorney House

Drake Way, Reading, RG2 0GZ

For sale
Shared ownership
Live from space album cover

Overview

Key Features One bedroomThird floor flatGood conditionDouble glazedGas heatingResident's parkingAllocated parking spaceSecure bike storageClose to local amenities in Reading Full Description A one bedroom third floor apartment located in Reading available through the Shared Ownership Scheme.Available for £76,000 for 40% share based on the marketing figure of £190,000. SO Resi Monthly Payment - £372.52Monthly Service Charge - £96.60Total Monthly Charge - £469.12 PLUS MORTGAGE REQUIRED FOR 40% SHARE. Hallway Lounge 4.00m x 3.59m Kitchen/Open plan livingFitted kitchen 1.81m x 3.52m Bathroom 3 piece suite w...

Features

Off street parking

Bedrooms1
Bathrooms1
Reception rooms1
Number of floors1
Entrance floorGround floor
Tenureleasehold

Register interest

from £76,000

with min. deposit £3,800

40% Share from
£76,000
Full market price
£190,000
Minimum deposit
£3,800
Monthly rent
TBD
Monthly service charge
£96.6
Annual ground rent
TBD
Reservation free
TBD
Administration free
TBD

SO Resi

FAQs

Shared ownership is a government-backed scheme, designed to make stepping onto the property ladder more affordable. You buy a portion of a home normally with a mortgage and a deposit, and pay a low-cost rent on the rest.

Read more on the Shared Ownership FAQ

Help to Buy is an equity loan scheme to help you buy a new home. If you have a 5% deposit and can cover 75% of the value of the home with a mortgage (or 55% in London), the Government will lend you up to the remaining 20% (40% in London) in the form of an equity loan that carries 0% interest in the first 5 years. This is available on a variety of new-build properties for first time buyers and is subject to the property price, the subsequent price cap in that region and the developer offering the option.

You can read more on the Help to Buy FAQ

The rules for shared ownership are different to a private purchase. In short, as long as you don’t currently own, or won’t own another property when you move in to a new home, you’re likely to qualify. Help to Buy is available to first time buyers only and the property value itself must fall below a price threshold for that specific area which varies in terms of the average house price in the region.

Read more about eligibility in the FAQ

Some properties require you to live or work in the local area in order to be eligible to buy them. By knowing the areas in which you live and work, we can make sure you see everything available to you.

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