1 bed flat for sale

Kingman Way, Newbury, Berkshire RG14

Shared Ownership

This superb modern home is available to buy from as little as £86,000 with a 40% share!

Located within this contemporary racecourse development in Newbury, is this well presented one bedroom apartment with a private balcony. The modern, open plan accommodation provides a fitted kitchen/living space, good size double bedroom and a bathroom. Outside there is an allocated parking space.

Selkirk House is just a short walk from Newbury town centre and its 50+ shops, restaurants & pubs, cafes and a cinema within the shopping centre. Newbury Racecourse railway station, offers frequent services to Reading, and via theElizabethLine into London Paddington in about 42 minutes.
Nearby Victoria Park offers green space, a boating lake, tennis courts, skatepark, a bandstand, and bowls club—ideal for weekend leisure time. Nearby attractions include the Watermill Theatre, The Living Rainforest, and several golf clubs such as Newbury & Crookham gc just a few miles away
Pricing & affordability


Full Market Value: £215,000

40% Share Price: £86,000 (rent £366.58 pcm)
Minimum 5% Mortgage Deposit (40% share): £4,300
Approximate Service Charges: £172.89 pcm*
Lease: 92 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 £215,000 and a purchaser would not need to meet the eligibility criteria listed above.