2 bed flat for sale

London Street, Reading, Berkshire RG1

Shared Ownership

This superb modern home is available to buy from as little as £110,000 with a 50% share!

Situated in a convenient and well-connected location close to Reading town centre, this spacious two-bedroom apartment offers well-proportioned accommodation throughout, making it an ideal purchase.

The property features a generous lounge filled with natural light, providing ample space for both relaxing and entertaining. A separate fitted kitchen offers practical workspace and storage, while the central hallway provides access to all rooms, creating a functional and well-balanced layout.

There are two good-sized bedrooms, both offering comfortable accommodation and flexibility for family living, guests, or home working. The property is further complemented by a family bathroom and useful storage space.

Outside, there is an allocated parking space for added convenience.

Located within easy reach of Reading's extensive shopping, dining and leisure amenities, as well as excellent transport links including Reading railway station and major road networks, this apartment combines comfort, convenience and accessibility.
Pricing & affordability


Full Market Value: £220,000

50% Share Price: £110,000 (rent £223.63pcm)
Minimum 5% Mortgage Deposit (% share): £5,500
Approximate Service Charges: £120.71 pcm*
Lease: 163 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 £220,000 and a purchaser would not need to meet the eligibility criteria listed above.