1 bedroom apartment for sale

Available

Maestro Apartments, 55 Violet Road, London, E3 3FW

£122,500 · Shared Ownership Resale

Share percentage 35%, full price £350,000, £12,250 Min Deposit.

Available
1 bedroom
1 Bathroom
Private Balcony/Terrace
Floor plan
floor-plan
Floor plan
floor-plan
£122,500 Shared Ownership Resale

Share percentage 35%, full price £350,000, £12,250 Min Deposit.

Monthly Cost: £1,352
Rent £450, Service charge £280, Mortgage £622*

Calculated using a representative rate of 4.64%

Calculate estimated monthly costs

£
Summary

A Fantastic Opportunity to Purchase a One Bedroom Apartment, on a Shared Ownership (Part Buy/Part Rent) Basis, through Clarion Housing

Description

This apartment is on the second floor of a modern development just to the north of Limehouse Cut. The property has a spacious reception room with double doors that open onto a balcony which overlooks the central courtyard. The semi-open-plan kitchen features sleek, white units and contrasting worktops. There is a generously-sized bedroom, a bathroom with overhead and separate hand-held shower and a fitted storage/utility cupboard in the entrance hallway. Well insulated walls, modern double glazing and a communal heating/hot water system make for a very good energy-efficiency rating. Maestro Apartments is located only a few minutes from Devons Road DLR. Bromley-by-Bow Station, for the District and Hammersmith & City Lines, is also within easy walking distance.

SHARED OWNERSHIP (Advertised price represents 35% share. Full market value £350,000).

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [https://tinyurl.com/2ss4aabh]

(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: Clarion.
Tenure: Leasehold (130 years less 5 days from 01/01/2009).
Minimum Share: 35% (£122,500). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £450.06 per month (subject to annual review).
Service Charge: £280.45 per month (subject to annual review).
Ground Rent: £200.00 per year.
Guideline Minimum Income: Dual - £47,500 | Single - £51,400 (based on minimum share and 10% deposit).
Council Tax: Band C, London Borough of Tower Hamlets. 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 £12,250
  • Guide Minimum Income £47.5k Dual £51.4k Single
  • Second Floor (building has a lift)
  • Approx. 560 Sqft Gross Internal Area
  • Semi-Open-Plan Kitchen/Reception
  • Balcony
  • Minutes from Devons Road DLR
  • Short Walk from Bromley-by-Bow Station
Particulars

Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: C

Property Downloads
Floor Plan Brochure Energy Certificate
Map
Langdon Park (0.00 miles) Devons Road (0.26 miles) Bromley-by-Bow (0.43 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 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.

£122,500
Shared Ownership Resale
Estimated Monthly Cost:£1,352
Rent £450
Service Charge £280
Mortgage £622

Share percentage 35%, full price £350,000, £12,250 Min Deposit. Calculated using a representative rate of 4.64%


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.