Share Price £340,000 (from 80% Min. Share)

Full Value £425,000 | £34,000 Min. Deposit

Scheme: Shared Ownership Resales

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1 bedroom apartment in Islington

place Drayton Park, Islington, N5 1PW

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Islington: One Bedroom, Third floor apartment now available


Eligibility

You may be eligible for this property if:

  • You must be at least 18 years old
  • Your annual household income must be less than £90,000
  • You are unable to purchase a suitable home to meet your housing needs on the open market.
  • You should generally be a first time buyer. If you already own a property, you must be in the process of selling or have already sold it before you can apply.

Description

The Terrace Apartments property is a purpose-built third floor flat in a four-storey block with lift facility. The lease remaining on the property is 113 years.

A good selection of amenities are located 0.3 miles away along Holloway Road, with a range of restaurants, cafes and supermarkets. For leisure and enjoyment, Highbury Fields is within 0.3 miles, which is the home to Better Gym, Highbury Pool and tennis / netball courts. Popular Upper Street is 0.6 miles away with a great selection of restaurants, bars, shops, cinemas, theatre and the Business Design Centre.

  • Nearest tube station: Holloway Road (Zone 2) 0.4 miles away – Piccadilly line
  • Nearest station: Drayton Park – National Rail
  • Bus routes nearby: 43, 153, 263, 271, 393 and N41 from Holloway Road / Liverpool Road.

The viewing day is by appointment only.

Estimated minimum income required: £75,000
Estimated minimum deposit required: £34,000
Estimatedmonthly cost: £1,664

  • Monthly Mortgage: £1,427
  • Monthly Rent: £129
  • Monthly Service Charge: £108

This assumption is made based on a household income with no loans or credit card balances. If you have a lower household income than shown, then higher deposit savings will be required.


Key Features

The property located on the third floor comprises:

  • Entrance:Hallway and video entry phone system leading to…
  • Living Room: 4.72 X 3.45 Spacious lounge open plan to kitchen with door to balcony. Cream carpet.
  • Kitchen: 2.57 x 2 Wooden base and wall units with grey worktop and metal splashback. Integrated oven, hob, fridge freezer.
  • Bedroom: 3.55 x 3.12 Fitted Wardrobe. Cream carpet.
  • Bathroom: White suite comprising panelled bath with shower head, WC and hand washbasin with mirror over. Part tiled). Tiled flooring.
  • Outside: Large outdoor terrace

Accessibility

C – Lifetime Homes

Meets the space standards of the Lifetime Homes developed by the Joseph Rowntree Foundation. Designed to meet the space standards of Lifetime Homes. Main features include a level approach/entrance and wider doorways. This category will capture all new general needs housing built to Lifetime Homes standards. Properties achieving this category will not necessarily meet all Lifetime Homes design guidance as the LAHR framework does not assess features other than space and access. Properties may have an internal flight of stairs. If so, these will be wide enough to accommodate future provision of a stair lift subject to technical feasibility.


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Calculate Monthly Cost

Share price
£ 340,000
Min. £340,000
Share percentage
Min. 80%
Your deposit
Min. £34,000
Monthly cost*
£1,517
Cost breakdown
£129
Rent
£107
Service charge
£1,281
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.