2 bedroom apartment for sale
Rodman House Plot 23, Iris Quarter, Barking, IG11 0AB
Share percentage 25%, full price £350,000, £4,375 Min Deposit.
Share percentage 25%, full price £350,000, £4,375 Min Deposit.
Monthly Cost: £1,413
Rent £602,
Service charge £318,
Mortgage £493*
Calculated using a representative rate of 5.15%
Calculate estimated monthly costs
You may be eligible for this property if:
- We will prioritise those who live and/or work in the London Borough of Barking and Dagenham
- You have a gross household income of no more than £90,000 per annum.
- You are unable to purchase a suitable home to meet your housing needs on the open market.
- You do not already own a home or you will have sold your current home before you purchase or rent.
Summary
This award-winning development offers a variety of layouts and styles. Each home will bring together a perfect blend of comfort, architecture, and design, all beside 2km of river facing frontage.
Description
Iris Quarter - Rodman House - Plot 23
2 bedroom 2nd floor apartment offering 80.6 sq.m of internal floor area with outdoor space. Contact a member of our sales team now to view our show home.
£87,500 for a 25% share of £350,000 and a deposit as low as £4,375 and a minimum income of £51,205.
Full Market Value: £350,000
Shared Value (25%): £87,500
Minimum deposit: £4,375
Required income: £51,205
Rent PCM: £602
Council tax band: TBC
What is Shared Ownership?
Under the Shared Ownership scheme you part-own and part-rent your home, making it possible for first-time buyers and families to get on the property ladder. The minimum share you can purchase is 25% and the maximum is 75%. You will usually pay a mortgage on the part you own and a subsidised rent on the part you don't own. Over time, you can increase the share you own until you eventually own 100%.
Barking Riverside
A landmark development for London along the banks of the River Thames. Barking Riverside is a joint venture between L&Q and The Mayor of London, and is one of Europe's largest brownfield developments, covering an impressive 443 acres, alongside 2km of beautiful south-facing River Thames frontage. The master plan will deliver 10,800 new homes, the brand-new Barking Riverside Overground station, as well as commercial, retail and leisure facilities. This pioneering project will incorporate Envac, one of Europe's largest automated waste disposal systems. New schools, parks and river walkways will all become home to an estimated 30,000 people at this former 1920s power station site. Iris Quarter has a collection of Shared Ownership homes available at this award-winning development. Offering a variety of layouts and styles, each home will bring together a perfect blend of comfort, architecture and design.
A place to connect
Barking Riverside lies beside 2km of beautiful South-facing River Thames frontage, covering 443 acres which will eventually include 10,800 new homes of mixed size and style. There is also provision for 65,000 square metres of commercial floor space for shopping, restaurants, cafés, community and leisure facilities. The Wilds Ecology Centre and new Coop Express Market are now open.
London's only district to adopt the NHS Healthy New Town initiative, Barking Riverside is set to incorporate a wide range of health measures, such as an on-site GP surgery, designed to help the residents to live longer, healthier, happier lives. A key element of the initiative is the network of cycle routes, located along the river and through every stage of the development.
Barking Riverside Connections
Reach central London in 22 minutes via newly opened Barking Riverside Overground station*
Uber Boat by Thames Clippers now running from new Barking Riverside Pier to central London
Please see the attached brochures and pricelist for our availability and specification details
Viewings
For those who would like to and are able to visit us, the Show Home is now open on an appointment-only basis, with extra measures in place to ensure your wellbeing. Please call us to book your appointment. If you would prefer to speak to our Sales Team from your own home, they are still on hand and can conduct appointments via phone, email and by virtual tour.
*tfl.gov.uk
*Terms and conditions apply
Key Features
- Reach City of London in just 22 minutes via the new Barking Riverside Overground station, now open
- Uber Boat by Thames Clippers is now running services to central London from new Barking Riverside Pier
- Set alongside 2km of stunning Thames River frontage
- New schools open now
- New CO-OP open now
- Envac waste disposal system
Particulars
Tenure: Leasehold
Council Tax Band: New build - Council tax band to be determined
Property Downloads
Floor Plan Brochure BrochureVideo Tour
Map
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 25%, full price £350,000, £4,375 Min Deposit. Calculated using a representative rate of 5.15%