1 bed flat for sale

Gallery Road, Chineham, Basingstoke RG24

This superb modern home is available to buy from as little as £88,000 with a 40% share!

Situated on the first floor of a well-maintained three-storey development, this modern one-bedroom apartment in Basingstoke offers bright and spacious living throughout. The property features a generous lounge/diner with plenty of natural light, a modern fitted kitchen, a well-proportioned double bedroom, a contemporary bathroom, and ample built-in storage. Additional benefits include allocated parking, secure communal entry, and easy access via stairs or lift.

Conveniently located in a sought-after area of Basingstoke, the apartment enjoys excellent transport links with Basingstoke train station offering direct services to London Waterloo in under an hour, and the M3 close by providing easy access to Reading, Winchester, and surrounding areas. Local amenities are within easy reach, including supermarkets, gyms, restaurants, and the shopping facilities of Festival Place, while nearby parks and green spaces offer great opportunities for relaxation
Pricing & affordability


Full Market Value: £220,000

40% Share Price: £88,000 (rent £336.80pcm)
Minimum 5% Mortgage Deposit (40% share): £4,400
Approximate Service Charges: £132.28pcm*
Lease: 118 years
Local area connection


In order to be eligible for this property, buyers must have a local area connection. You must either live or work in Basingstoke and Dean or have a strong family connection living within the borough in order to be accepted. Proof of a local area connection will be required as part of the application process.
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 £220,000 and a purchaser would not need to meet the eligibility criteria listed above.