Share Price £175,000 (from 25% Min. Share)

Full Value £700,000 | £17,500 Min. Deposit

Scheme: Shared Ownership

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Sheep Lane - 2 bed apartment in Hackney

place Flat 209, 33 Andrews Road, E8 4FX

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Prime canalside location in Hackney!


Eligibility

To be eligible for shared ownership with Hackney Sales, you must be able to answer YES to the following questions:

- Are you at least 18 years of age?
- Is your annual gross household income less than £90,000?
- Are you a first time buyer, i.e. you don’t already own a home? If you do already own a home, have you accepted an offer from a buyer and in the process of selling it?
- Are you unable to afford to buy a home suitable for your housing needs on the open market? If you are not sure, you can speak to an independent mortgage advisor
- Are your current mortgage or rent payments up to date?
- Do you have a good credit history (no bad debts or County Court Judgements), and can you afford the regular payments and cost involved in buying and running a home?
- Do you have savings or are you able to easily access at least £4,000 to cover the costs of buying a home? This is a guideline figure, and the actual amount you need will depend on a number of factors
- Do you have enough savings or are you able to access a minimum 10% of the equity share you are buying, as a mortgage deposit? Or do you have the cash funds available to buy the share without a mortgage?


Description

*Initially only available to those who either live or work in Hackney*

Hackney Sales are pleased to present our newest development, Sheep Lane E8 which offers one and two bedroom apartments in a prime canalside location. High quality homes that benefit from a roof terrace and excellent views across the city. Broadway Market is minutes away and London Fields park and Victoria Park on your doorstep. These new homes provide the perfect combination of access to Hackney’s independent food and arts scene alongside green space.

Location:

- Located an 11 minute walk from London Fields Station (0.5 miles)
- A 5 minute walk from Cambridge Heath Station (0.3 miles)
- Bethnal Green Tube station is a 12 minute walk (0.6 miles)
- London Fields park is a 6 minute walk (0.3 miles)
- Victoria park is an 8 minute walk (0.4 miles)
- Broadway Market is a 5 minute walk (0.2 miles)

- St Paul’s with St. Michael’s Primary School is within walking distance and has an Outstanding Ofsted rating
- Sebright Primary School is also within close proximity and received an Outstanding Ofsted report


Key Features

- One and two bedroom homes on the second and third floors
- Each apartment benefits from a bolt-on balcony, providing more space within the home
- Access to a landscaped roof terrace overlooking the canal
- The flat is available to view now and can be your new home within 6 weeks!
- High specification and carefully considered layout
- Kitchen appliances included, including dishwasher
- Neutral interiors - make it your own
- Hardwood flooring throughout
-Off Street Cycle storage

Please register your interest via Share to Buy or alternatively you can email the Hackney Sales Team at sales@hackney.gov.uk who will put you in touch with a mortgage advisor for a compulsory affordability assessment.


*Based on assumed mortgage interest rates and lender requirements at the time of a mortgage application. If you have a higher deposit but a lower income than the minimums displayed, you may still meet the affordability criteria. Financial assessments will be completed based on individual circumstances. The values and service charges displayed are subject to change with service charges to be updated prior to build completion and values to be reviewed periodically in line with market conditions.


Due to the widespread local transport options and cycle storage, Sheep lane is a car-free development. Street parking will not be available, with street parking unavailable for the shared ownership addresses.


Hackney Sales are the Council’s in-house Sales Agent. We have endeavoured to ensure the accuracy of these property details, however, any suspected errors can be reported to sales@hackney.gov.uk. We have not tested the services, appliances, or any apparatus connected or supplied in the homes. All computer generated images and artist illustrations displayed are to viewed as a guide only. Distances described are approximate. Move-in dates are subject to change. Buyers must satisfy themselves as to the validity of the information provided and instruct a Conveyancer to act in their interests to qualify important information and progress the sale to completion.


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Property brochure 1 Property price list
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Calculate Monthly Cost

Share price
£ 175,000
Min. £175,000
Share percentage
Min. 25%
Your deposit
Min. £17,500
Monthly cost*
£2,071
Cost breakdown
£1,094
Rent
£177
Service charge
£800
Mortgage*
Calculated using a representative rate of 3.64%
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Location

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.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

  • 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.