Shared Ownership
This superb modern home is available to buy for £292,500 with a 75% share!
This purpose built apartment is situated in a prime location and is being offered to the market with no onward chain and available for immediate occupancy. The accommodation includes an open plan 26ft lounge/kitchen/diner, two bedrooms (master with en suite) and bathroom.
Located in a prime position, this development is close to an abundance of amenities, including shops, café’s restaurants, supermarkets, and Canary Wharf’s 5 famous Malls. It is also located just a 2 minute walk from Crossharbour DLR, and a 10 minute walk from Canary Wharf which offers quick access to the City and Central London on the Elizabeth and Jubilee line.
PRICING & AFFORDABILITY
Approximate Size: 721 sq ft
Full Market Value: £390,000
75% Share Price: £292,500 (rent £223.44pcm)
Minimum 5% Mortgage Deposit (75% share): £14,625
Approximate Service Charges: £300 pcm*
Shared Ownership Lease: approx. 108 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.
** This home can also be purchased outright (100% of the value) which is £390,000 and a purchaser would not need to meet the eligibility criteria listed above.
