2 Bed Apartment For Sale

Shared Ownership

This superb modern home is available to buy from as little as £94,000 with a 40% share!

A larger than average two bedroom ground floor apartment with it’s own front door located in Winklebury, Basingstoke. This property is offered to the market with no onward chain complications and provides beautifully presented accommodation comprising two well appointed double bedrooms, modern bathroom and a stunning open plan kitchen/dining/living space. Outside, there is allocated parking for one car and there are approximately 121 years remaining on the lease.

The property is approximately 3 miles from Basingstoke town centre and a wealth of amenities and over 200 shops. Festival Place houses a 10-screen Vue cinema, Basingstoke Sports Centre, Discovery Centre (library), and Flip Out trampoline park for family fun.
Basingstoke Railway Station provides frequent services to London Waterloo and many surrounding towns including Reading and Southampton. There are also regular bus services across Basingstoke and surrounding areas.


PRICING & AFFORDABILITY

Full Market Value: £235,000

40% Share Price: £94,000 (rent £347.32 pcm)
Minimum 5% Mortgage Deposit (40% share): £4,700
Approximate Service Charges: £164.45 pcm*
Lease: 121 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 £235,000 and a purchaser would not need to meet the eligibility criteria listed above.