Studio for sale

Kingman Way, Newbury, Berkshire RG14

Shared Ownership

This superb modern home is available to buy from as little as £96,000 with a 40% share!

A spacious two-bedroom third-floor apartment situated within Hackwood House on Kingman Way, forming part of the popular Newbury Racecourse development. Offering approximately 793 sq ft of accommodation, the property benefits from a large private balcony and one allocated parking space.

The accommodation centres around an impressive open-plan kitchen and reception room, providing generous space for both living and dining and opening directly onto the balcony. There are two well-proportioned bedrooms, a modern bathroom and useful built-in storage, creating a practical and contemporary layout.

Hackwood House is conveniently positioned for Newbury’s shops, restaurants and leisure amenities, while Newbury Racecourse railway station is approximately 400 metres away. Newbury town centre and mainline station are also within easy reach, alongside convenient road connections towards the A34 and M4.
Pricing & affordability


Full Market Value: £240,000

40% Share Price: £96,000 (rent £463.87pcm)
Minimum 5% Mortgage Deposit (40% share): £4,800
Approximate Service Charges: £211.48pcm*
Lease: 116 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 £XXX, XXX and a purchaser would not need to meet the eligibility criteria listed above.