Share Price £130,000 (from 25% Min. Share)

Full Value £520,000 | £13,000 Min. Deposit

Scheme: Shared Ownership Resales

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1 bedroom apartment in Islington

place Dance Square, London, EC1V 3AJ

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One Housing Group

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This property is a bright, well-proportioned one bedroom flat on the first floor. It also has a east-facing balcony overlooking sporting grounds, local restaurants.


Eligibility

Eligibility Criteria

* 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

Full market Value: £520,000
25% Share: £130,000
Rent: £723.99
Service Charges: £180.06
Lease 125 years including 12 April 2012


Dance Square is a popular development in a fantastic central location. Barbican and Old Street stations are within 10 minutes walk and Farringdon is also within easy walking distance. The block has a 24-hour concierge service, secure bike parking, and attractive gardens. Supermarket is located underneath the complex for convenience, with many world-renounced restaurants and bars within walking distance.

15 minute walk to the City of London, Design District of Farringdon, "Silicon Roundabout" at Old Street, St Pauls Cathedral - and most importantly for all budding home chefs - the Smithfield meat and product market.


This property is a bright, well-proportioned one bedroom flat on the first floor. It also has a east-facing balcony overlooking sporting grounds, local restaurants.

The flat opens into a hallway with an airing cupboard and a further storage cupboard, leading to the bedroom, bathroom and kitchen/living room. All the rooms are a decent size and neutrally decorated. Heating comes from a communal boiler in the basement but is fully controllable within the flat.

The bedroom has a large window and triple-sized wardrobe. The bathroom has a tiled floor, and a white bathroom suite with a good shower over the bath. It also has a heated towel rail.

In the main living area, the kitchen is large with lots of cupboards as well as a fridge/freezer, dishwasher, washer/drier, and electric oven with ceramic hob. There is space for a dining table and separate seating area, as well as a further storage cupboard.


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Calculate Monthly Cost

Share price
£ 130,000
Min. £130,000
Share percentage
Min. 25%
Your deposit
Min. £13,000
Monthly cost*
£1,464
Cost breakdown
£724
Rent
£180
Service charge
£560
Mortgage*
Calculated using a representative rate of 3.09%
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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.