Shared Ownership
This superb modern home is available to buy from as little as £120,000 with a 25% share!
An exceptional one bedroom apartment on the first floor of this sought-after development. The bright and spacious accommodation provides a spacious reception room, modern and fully equipped kitchen, tiled bathroom and a double bedroom. A winter garden provides further usable living space.
The building opens onto a newly developed landscaped area with benches, plants and coffee shops and retail outlets due to open shortly. Access to a large gym with cardio and weights equipment in the neighbouring building is included.
The apartment is conveniently located within walking distance of the City, Spitalfields Market, Tower Bridge, and Shoreditch, with an extensive array of shopping, restaurants, bars, and entertainment options nearby.
Transport links are exceptional, with four Zone 1 underground stations (Aldgate, Aldgate East, Tower Hill, and Liverpool Street) within walking distance, along with easy access to DLR services at Tower Gateway and Liverpool Street, as well as rail services from Fenchurch Street.
PRICING & AFFORDABILITY
Full Market Value: £480,000
25% Share Price: £120,000 (rent £855.11 pcm)
Minimum 5% Mortgage Deposit (25% share): £6,000
Approximate Service Charges: £431.57 pcm*
Shared Ownership Lease: approx. 114 years
Council Tax Band: E
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 £90,000.
• 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 £480,000 and a purchaser would not need to meet the eligibility criteria listed above.
