1 bedroom apartment for sale
47 Cherrywood Close, E3 2DQ
Share percentage 40%, full price £400,000, £16,000 Min Deposit.
Share percentage 40%, full price £400,000, £16,000 Min Deposit.
Monthly Cost: £1,382
Rent £372,
Service charge £231,
Mortgage £779*
Calculated using a representative rate of 4.24%
Calculate estimated monthly costs
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.
Summary
1B Apartment - Great Location
Description
Cherrywood Close, London E3 2DQ
Open Market Value: £400,000.00
40% @ £160,000.00. Rent: £372.00 p.m. Service Charge: £231.00 p.m.
A spacious and bright one bedroom apartment within a leafy residential complex with outside space and lots of storage. The property has a balcony, a spacious lounge and dining area, and an open plan kitchen with true induction hob and white goods. The property is cool in the summer and cosy in the winter with lots of morning sun. The bedroom is spacious and currently fits a king bed and a double wardrobe. The bathroom has an integrated bath and shower and heated towel rail.
It has a large hall, ideal for storing coats and other items. It also has a large dying cupboard, ideal for drying clothes and storing linen. It also has a large storage cupboard.
It is a 6 minute walk to Mile End station, 10 minute walk to Victoria Park, and a few minutes to a variety of shops and cafes on Roman Road.
Particulars
Tenure: Leasehold
Council Tax Band: Not specified
Property Downloads
Energy CertificateMap
The ‘estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together: rent, service charge and mortgage.
- 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 and repairs for communal areas within your development.
- Mortgage: Share to Buy use a database of mortgage rates to work out the rate likely to be available for the deposit amount shown, and then generate an estimated monthly plan on a 25 year capital repayment basis.
NB: This mortgage estimate is not confirmation that you can obtain a mortgage and you will need to satisfy the requirements of the relevant mortgage lender. This is not a guarantee that in practice you would be able to apply for such a rate, nor is this a recommendation that the rate used would be the best product for you.
Share percentage 40%, full price £400,000, £16,000 Min Deposit. Calculated using a representative rate of 4.24%
