1 bed flat for sale

Gilbert Close, Padworth, Reading RG7

Shared Ownership

This superb modern home is available to buy from as little as £76,000 with a 40% share!

A second floor apartment with spectacular views on the second floor of this modern development built in 2019. The property is beautifully presented throughout and provides bright and spacious accommodation comprising a large open plan kitchen/dining/living space, contemporary bathroom and an enormous double bedroom. Outside, there is allocated parking and this property benefits from a 120 year lease.

Padworth is a village is located close to Reading, Thatcham and Aldermaston where you’ll find a variety of amenities and services. Padworth is close to the A4 Bath Road and there are bus services via Thatcham Connect to neighbouring towns. The closest train station is approximately 1.5 miles away in Aldermaston offering services to Reading in under 15 minutes.
Pricing & affordability


Full Market Value: £190,000

40% Share Price: £76,000 (rent £359.46 pcm)
Minimum 5% Mortgage Deposit (40% share): £3,800
Approximate Service Charges: £140.68 pcm*
Lease: 120 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 £190,000 and a purchaser would not need to meet the eligibility criteria listed above.