Share Price £145,500 (from 30% Min. Share)
Full Value £485,000 | £14,550 Min. Deposit
Scheme: Shared Ownership Resalescheck_circle Available now
1 bedroom apartment in Islington
place Fable Apartments, 261c City Road, EC1V 1AP
A Fantastic Opportunity to Purchase a One Bedroom Apartment, on Shared Ownership by Clarion Housing
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]
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 30% share. Full market value £485,000). Fable Apartments 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. This stylishly presented property is on the fourth floor and features a reception room with large windows and an open-plan kitchen with pale units and contrasting worktop. The bedroom includes a built-in wardrobe and useful additional storage space has been provided in the hallway. The bathroom is high-spec with attractive, 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; https://bit.ly/33s186b]
(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:30% (£145,500). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent:£624.22 per month (subject to annual review)
Service Charge:£197.35 per month (subject to annual review).
Ground Rent:£250.00 for current year.
Guideline Minimum Income:Dual - £48,800 | Single - £54,700 (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.
- Guideline Minimum Deposit £14,550
- Guideline Income Dual £48.8k | Single £54.7k
- Fourth Floor (building has a lift)
- Approx. 454 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
Download DocumentsLink to the floor plan Property brochure 1 Energy Certificate
F – General Needs
General needs housing does not meet any of the above criteria. Properties in this category will have more than four steps or a ramp access that is steeper than 1:10 to access the property front door. These properties should be marketed with the number of steps to access the property as this will provide an additional factor for helping people choosing what to bid for.