1 bedroom apartment for sale

Available

Fable Apartments, 261c City Road, EC1V 1AP

£110,000 · Shared Ownership Resale

Share percentage 25%, full price £440,000, £11,000 Min Deposit.

Available
1 bedroom
Floor plan
floor-plan
Floor plan
floor-plan
£110,000 Shared Ownership Resale · Eligibility Eligibility

Share percentage 25%, full price £440,000, £11,000 Min Deposit.

Monthly Cost: £1,430
Rent £703, Service charge £214, Mortgage £513*

Calculated using a representative rate of 3.82%

Calculate estimated monthly costs

£
Eligibility

WHAT IS SHARED OWNERSHIP ?
Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and Homes England outside of London.

IS SHARED OWNERSHIP FOR YOU ?
The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:
 Not own another property in the UK or any other country.
 Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
 Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
 Be in full time permanent employment.
 Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
 Have a good credit history.
If you are still unsure about Shared Ownership or would like more information view[ Facts and Frequently Asked Questions]

Summary

A Fantastic Opportunity to Purchase a One Bedroom Apartment, on Shared Ownership by Clarion Housing 

Description

A Fantastic Opportunity to Purchase a One Bedroom Apartment, on a Shared Ownership (Part Buy/Part Rent) Basis, through Clarion Housing

SHARED OWNERSHIP(Advertised price represents 25% share. Full market value £440,000). This second-floor apartment is part of a recently-constructed development alongside City Road Basin, only a short walk from Angel and Old Street and within easy reach of the heart of The City. The attractively presented property has an open-plan reception/kitchen, a fitted wardrobe in the bedroom, hallway storage and a stylish bathroom with large-format tiles. Modern insulation standards, high performance glazing and a communal heating and hot water system have resulted in a very good energy-efficiency rating and an excellent environmental-impact rating.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM[HERE; http://bit.ly/2FS1oQH]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Tenure:Leasehold (125 years from 2015)
Minimum Share:25% (£110,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent:£702.84 per month. (Subject to annual review)
Service Charge:£214.48 per month. (Subject to annual review)
Ground Rent:£250.00 for current year
Guideline Minimum Income:Dual - £46,000 | Single - £51,400 (based on minimum share and 10% deposit)
Council Tax:Band D, Islington. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals). There is no parking space offered with this property.

Key Features
  • Guideline Minimum Deposit £11,000
  • Guideline Income Dual £46k | Single £51.4k
  • Second Floor
  • Approx. 447 Sqft Gross Internal Area
  • High Performance Glazing
  • Communal Heating and Hot Water
  • Short Walk from Angel/Old Street
  • Barbican/Moorgate/Liverpool St in Easy Reach
Particulars

Tenure: Not specified
Council Tax Band: Not specified

Property Downloads
Floor Plan Brochure Energy Certificate
Map
Angel (0.42 miles) Old Street (0.51 miles) Barbican (0.67 miles)
Monthly Cost Calculator

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together, rent, service charge and mortgage.

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  • Rent: this is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes)
  • Service Charge: covers maintenance costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.

NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.

£110,000
Shared Ownership Resale
Estimated Monthly Cost:£1,430
Rent £703
Service Charge £214
Mortgage £513

Share percentage 25%, full price £440,000, £11,000 Min Deposit. Calculated using a representative rate of 3.82%


Disclaimer
The information displayed about this property comprises a property advertisement. Share to Buy ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Share to Buy has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by the sponsoring housing association. Please contact the housing association or estate agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007.