2 Bed Apartment For Sale

SHARED OWNERSHIP

This property is available to buy for as little as £72,000 for a 40% share.

Offered to the market stands this well presented and sized 2 bedroom first floor apartment in Bourdillon Gardens, Basingstoke.

The accommodation includes an entrance hall with storage space, family bathroom, two double bedrooms, with storage space and an en suite to the master and an open plan kitchen/living room with access to the private Balcony.

This apartment further benefits from having 1 allocated parking space, has a new 125 year lease, a lift in the building and is available immediately.

PRICING AND AFFORDABILITY

Full Market Value: £180,000

40% Share Price: £76,000 (rent £247.50 pcm)
50% Share Price: £90,000 (rent £206.25 pcm)
75% Share Price: £135,000 (rent £103.13 pcm)

Minimum 5% Mortgage Deposit (40% share): £3,600

Approximate Service Charges: £130.86 pcm

ELIGIBILITY

The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright.

At Bourdillon Gardens you can buy a minimum 40% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

Local Connection to Basingstoke and Deane Required. There is a local connection clause related to this property and this means that applications can only be received from someone with connection to the local area, via work, family or currently living in the borough in accommodation that does not fit their needs.

To be eligible for this shared ownership home you would need to meet the following criteria:

• Your 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.
• You have a local connection to Basingstoke and Deane (work in the area or have family in the area).

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change.

** These photos are for information purposes only have been digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images. Furniture is not included in the purchase price and the property is ‘sold as seen’.