Share Price £68,750 (from 25% Min. Share)

Full Value £275,000 | £6,875 Min. Deposit

Scheme: Shared Ownership Resales

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2 bedroom apartment in Havering

place Oak House, Marks Lodge, RM7 7LN

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One Housing Group

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First floor 2-bedroom apartment in Havering


Eligibility

 

Household income must not exceed £80,000 (outside of London) or £90,000 (in London)
Must pass the One Housing financial assessment (done after receiving the application, which can only be submitted after viewing the property)
No cash buyers
No pets
Applicants must be able to afford their purchase, and sustain their housing costs
Applicants are primarily expected to be first time buyers, though some applicants who own or have previously owned a home may be eligible, including existing shared owners
Applicants must be unable to purchase a property suitable to meet their needs on the open market
Priority will be given to Armed Forces personnel (serving military personnel and former members of the British Armed Forces discharged in the last 2 years) and then on a first come first serve basis

Please be advised that if all applicants meet the criteria above the property will be offered on a first come first serve basis, this means that the first eligible applicant who submits an application will be nominated as the buyer.

 

 


Description

A pleasant first floor two-bedroom apartment situated in a popular residential area with easy access to the A12, M25, A13 & local train station, walking distance to shops, gyms and other vital amenities. Free parking in adjacent car park in Cottons Park. Accommodation comprises of two good sized rooms with an ensuite and built in wardrobe in the master room. The property benefits from having great views of the beautiful green and refreshing scenes of cottons park.

Property description

Situated on the first floor and comprising:

Reception open plan to Kitchen – 5.3 x 3.3m, Kitchen – 2.9 x 2.1m

Bedroom One – 4.1 x 2.9m (excl. En Suite and built in walk in Wardrobe)

Bedroom Two – 4.2 x 2.5m, (stated sizes are approximate)


En Suite Bathroom serving main bedroom, Guest Bathroom and entrance hallway.
Spacious Balcony with a view onto the green surroundings of cottons park.

Tenure:Leasehold, 113 years remaining


Key Features

Convenience, convenience! located within walking distance of Romford town centre.
Close to transport links, schools and cottons park.
Spacious Balcony with a view onto the green surroundings of cottons park.
Modern fitted Kitchen
Room with built in wardrobe and ensuite.
Laminate flooring throughout
Double glazing.
Gas central heating.
Video entry phone system.
Underground parking Available on request/ or benefit from free parking in the cottons park car park.
Large open plan living, dining area, kitchen.
Communal Gardens
Good Storage/Utility area.


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Calculate Monthly Cost

Share price
£ 68,750
Min. £68,750
Share percentage
Min. 25%
Your deposit
Min. £6,875
Monthly cost*
£990
Cost breakdown
£504
Rent
£190
Service charge
£296
Mortgage*
Calculated using a representative rate of 3.09%
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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.