1 bedroom apartment for sale

Shared Ownership

This brand new home is available to buy from as little as £155,000 with a 50% share!

Nestled on the outskirts of Slough, a popular Berkshire town, Montem Square is a fantastic development of Shared Ownership 1 and 2-bedroom apartments. Close to plentiful amenities and several leisure opportunities, the homes are ideal for a range of buyers, including young professionals, commuters, first-time buyers, families and those looking to downsize.

Excellently placed for transport links, the homes have easy access to the M4 and A404, Reading, Windsor, Maidenhead, and central London. For rail travel, Slough railway station is just under a mile away with direct links to Reading, Maidenhead, London, as well as Windsor and Eton.

Crossrail is also situated here, with commuters arriving at Bond Street in 30 minutes. Tottenham Court Road and Liverpool Street are just under 40 minutes away when using the Elizabeth Line. For national and global travel, Heathrow Airport is a 16-minute drive away, with a broad range of destinations including Europe, America, and Asia.

This brand new second floor apartment features an open plan lounge/kitchen/diner with access to a private balcony, a large double bedroom and a bathroom.

PRICING & AFFORDABILITY

Full Market Value: £310,000

40% Share Price: £124,000 (rent £387.50pcm)
50% Share Price: £155,000 (rent £322.92pcm)
75% Share Price: £232,500 (rent £161.46pcm)

Minimum 5% Mortgage Deposit (40% share): £6,200
Approximate Service Charges: £125 pcm*
Shared Ownership Lease: 990 years
Council Tax Band: TBC

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.

At Montem Lane you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

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.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*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.

*These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.