Share Price £133,750 (from 25% Min. Share)

Full Value £535,000 | £6,688 Min. Deposit

Scheme: Shared Ownership

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Back Church Lane - 1 bed apartment in Tower Hamlets

place Twyne House, Back Church Lane, E1 1LX

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Last large one bedroom apartment in the heart of London - Call now to arrange a viewing


Eligibility

*Must live or work within a London Borough
*Must meet the minimum income requirements - £64,000

Shared Ownership is an excellent way for people who are unable to buy on the open market to take their first step onto the property ladder. Under the Shared Ownership scheme, you buy a share of the property’s value and pay a subsidised rent on the remaining share. A key advantage is that, as part-owner, you have a stability of tenure that renting cannot offer. Over time, you can buy more of the property until you own 100%.

You will need a small deposit at the outset – generally a minimum of 5% of your share, subject to conditions – and you will need to raise a mortgage on the rest of the sum required.

Am I eligible?

There are certain conditions to be eligible for a Shared Ownership property:

• Your annual household income must be no more than £90,000.

• You must be unable to purchase a home suitable for your needs without assistance.

• You must be able to demonstrate a connection to the local area of the development.

• You must not have any outstanding credit issues (i.e. unsatisfied defaults or county court judgments).

• You must be a first-time buyer. If you already own a home and need to move but cannot afford to, or you have equity from a recent sale, please contact us, as there are some circumstances under which you may still be eligible.

If we think you may be eligible, you will be asked to have a free financial assessment with a Shared Ownership mortgage specialist to find out what share you can afford to buy. You will also be asked to complete an application form with the local Help to Buy agent. Sometimes you may need to be registered with your Local Authority. Specific criteria will be detailed on the information for each property


Description

**LAST REMAINING PROPERTY!**

DON'T MISS OUT - incentive being offered of £500 Cashback (conditional on exchanging in 28 days)*

A stunning 1st floor one bed apartment situated in the heart of Aldgate, East London.

The internal specification is bright and contemporary with a custom-built kitchen with feature glass splash back, a sleek bathroom and a luxurious bedroom with a built in wardrobe - providing a perfectly practical living space.

As well as a private balcony overlooking the internal courtyard, the apartment benefits from access to a large communal roof terrace on the fifth-floor of the building, providing a beautiful space in which to relax and enjoy the breath-taking views of the City and Canary Wharf.

Located within walking distance to the City and just an eight-minute walk to Tower Gateway DLR station, providing access to Canary Wharf in just 12-minutes*. Back Church Lane benefits from an incredibly central and convenient place to live and enjoy all that London has to offer.

To register your interest or for any other enquiries please contact the Customer Service Team – Sales on:-

T: 020 7378 5638 E: shared.ownership@myclarionhousing.com

Please note:

All images displayed throughout are examples of previous Clarion developments and are not indicative of the specification at this development and may not correspond exactly to the available properties described.

These prices are to be used as a guideline only as they may change.

*terms and conditions apply.


Key Features

  • Less than ½ mile to Aldgate East Underground station – Zone 1.
  • Large balcony.
  • Fully-fitted designer kitchen.
  • Elegant Villeroy and Boch bathroom suite.
  • Underfloor heating.
  • Fitted wardrobe.

*Journey times are calculated from Tower Gateway DLR station, based on Transport for London data at the time of writing.


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Property brochure 1 Property price list
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Calculate Monthly Cost

Share price
£ 133,750
Min. £133,750
Share percentage
Min. 25%
Your deposit
Min. £6,688
Monthly cost*
£1,618
Cost breakdown
£836
Rent
£112
Service charge
£670
Mortgage*
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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.