2 bed flat for sale

Elm Drive, Woodley, Reading RG5

This superb modern home is available to buy from as little as £116,000 with a 40% share!

A well-presented two-bedroom apartment situated in a popular residential area of Woodley, offering a great opportunity for first-time buyers or those looking to step onto the property ladder.
The property features a spacious open-plan kitchen/reception room, providing a bright and versatile living space ideal for both relaxing and entertaining. There are two well-proportioned bedrooms, along with a modern family bathroom.
Elm Drive is ideally located with a range of local amenities nearby, including shops, supermarkets, cafes, and restaurants, all within easy reach. Woodley town centre is just a short distance away, offering further retail and leisure options.
For commuters, the property benefits from excellent transport links, with easy access to the A329(M) and M4, as well as nearby train stations providing direct routes into Reading and London. There are also regular bus services in the area.
This is a fantastic opportunity to secure a well-located home in a sought-after area.
Pricing & affordability


Full Market Value: £290,000

40% Share Price: £116,000 (rent £275,75pcm)
Minimum 5% Mortgage Deposit (40% share): £5,800
Approximate Service Charges: £179.80pcm*
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 £290,000 and a purchaser would not need to meet the eligibility criteria listed above.