2 bedroom apartment for sale

Available

Lock Court, 1 Essex Wharf, E5 9HP

£159,000 · Shared Ownership Resale

Share percentage 30%, full price £530,000, £15,900 Min Deposit.

Available
2 bedrooms
1 Bathroom
Private Balcony/Terrace
Floor plan
floor-plan
Floor plan
floor-plan
£159,000 Shared Ownership Resale · Eligibility Eligibility

Share percentage 30%, full price £530,000, £15,900 Min Deposit.

Monthly Cost: £1,706
Rent £821, Service charge £200, Mortgage £685*

Calculated using a representative rate of 3.09%

Calculate estimated monthly costs

£
Eligibility

London Borough of Waltham Forest. Priority is given to applicants living and/or working in this local authority.

Summary

A Fantastic Opportunity to Purchase a Two Bedroom House, on Shared Ownership

Description

SHARED OWNERSHIP (Advertised price represents 30% share. Full market value £530,000). A bright, sixth-floor apartment that features a 25' reception room with a large, sliding door that leads out to a south-east-facing balcony. The kitchen is open-plan with sleek, handle-less units and integrated appliances. There are two generously-sized bedrooms, one of which includes a fitted, mirror-fronted wardrobe. A storage/utility cupboard has been provided in the entrance hallway and the energy-efficiency rating is very good, thanks to modern insulation standards, high performance glazing and a communal heating/hot water system. Lock Court is very close to Lee Valley Park and only a short walk from both Lea Bridge and Clapton Stations. Nearby Southwold Primary School is Ofsted-rated 'Outstanding'. 

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [HERE; https://tinyurl.com/yc7b6cur]

(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.) 

Housing Association: A2Dominion.
Tenure: Leasehold (125 years from 2015).
Minimum Share: 30% (£159,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £820.87 per month (subject to annual review).
Service Charge: £199.53 per month, including sinking fund (subject to annual review).
Guideline Minimum Income: Dual - £60,500 | Single - £68,250 (based on minimum share and 10% deposit).
Council Tax: Band D, London Borough of Waltham Forest. 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 £15,900
  • Guideline Income Dual £60.5K | Single £68.3K
  • Sixth Floor (building has a lift)
  • Approx. 750 Sqft Gross Internal Area
  • High Performance Glazing
  • Communal Heating and Hot Water
  • South East Facing Balcony
  • Short Walk to Clapton/Lea Bridge Stations
Property Downloads
Floor Plan Brochure Energy Certificate
Map
Clapton (0.51 miles) Rectory Road (1.01 miles) Hackney Downs (1.12 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.

£159,000
Shared Ownership Resale
Estimated Monthly Cost:£1,706
Rent £821
Service Charge £200
Mortgage £685

Share percentage 30%, full price £530,000, £15,900 Min Deposit. Calculated using a representative rate of 3.09%


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.