2 bed flat for sale

Foxglove, Woodley, Reading RG5

Shared Ownership

This superb modern home is available to buy from as little as £126,000 with a 40% share!

A rarely available two bedroom coach house within the popular Woodley Airfield Development. This exception property provides spacious, well-planned accommodation and benefits from it’s own front door. There is a large open plan kitchen/living/dining space, two good size double bedrooms and a modern bathroom. Outside, there is parking and this property benefits from a garage and a large storage space.

This property is located withing the Woodley Airfield Development and was built in 2015. The development borders Dinton Pastures Country Park and nature reserve which provides 335 acres of landscape and lakes.
Woodley town centre is easily accessible (approximately 20 minutes walk) and the precinct provides a good range of local shops and places to eat. There is a weekly market and various events throughout the year including the popular Woodley Carnival.
The area is well connected with local bus routes running regularly to Reading and the M4 is a short drive away.
Pricing & affordability


Full Market Value: £315,000

40% Share Price: £126,000 (rent £274.10 pcm)
Minimum 5% Mortgage Deposit (% share): £6300
Approximate Service Charges: £32.07 pcm*
Lease: 115
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 £315,000 and a purchaser would not need to meet the eligibility criteria listed above.