1 bedroom apartment for sale

Shared Ownership

This superb modern home is available to buy from as little as £87,500 with a 50% share!

Offered to the market with no onward chain, this ground floor apartment is located in the popular Quadrant Court development and benefits from an allocated underground parking space.

The apartment features a bright and spacious open plan lounge/diner, a separate kitchen, a generous double bedroom, and a modern bathroom.

Quadrant Court is situated within easy reach of Reading town centre, offering a wide variety of shops, cafés, restaurants, and leisure facilities. The Oracle Shopping Centre, local supermarkets, gyms, and riverside walks are all close by, making this location highly convenient for everyday living and recreation. Nearby green spaces and community areas add to the appeal of this well established residential development.

The property benefits from excellent transport connections. Reading mainline station is within walking distance, providing fast and frequent rail services to London Paddington, the Elizabeth Line, Heathrow Airport, and the West. Road users will appreciate easy access to the A33, A4, and M4 motorway, making commuting and regional travel straightforward.

PRICING & AFFORDABILITY

Full Market Value: £175,000

50% Share Price: £87,500 (rent £520.67pcm)
Minimum 5% Mortgage Deposit (50% share): £4,375
Approximate Service Charges: £394.89pcm*
Lease: 99 years (seller will extend the lease to 99 years as part of the sale)

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 £175,000 and a purchaser would not need to meet the eligibility criteria listed above.