Share percentage 25%, full price £379,000, £4,738 Min Deposit.
Monthly Cost: £1,359
Rent £651,
Service charge £168,
Mortgage £540*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
You may be eligible for this property if:
- 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
Abbey Place
Description
Abbey Place: Affordable London Living with Elizabeth Line on your doorstep.
Designed to be a forerunner for future residential development in the area, Abbey Place is a duo of contemporary 13 storey and 21 storey residential buildings. Created to evoke a sense of place, to compliment Abbey Wood’s new Crossrail station and public realm.
WHAT IS SHARED OWNERSHIP?
Shared Ownership is a government-backed scheme that has been around for more than 35 years and has helped over 200,000 people buy a home.
WHY BUY SHARED OWNERSHIP?
Shared Ownership is the perfect way to get on to the housing ladder if your finances mean that your housing needs and your current situation don’t quite match. Better still, it’s usually cheaper than renting.
HOW DOES IT WORK?
With Shared Ownership you buy a percentage of the home’s overall value.You can buy between a 25% and 75% share
to start with, and you must always buy the maximum you can afford. You pay rent on the share you don’t buy. The rent increases annually, but is always subsidised and is worked out using a percentage of the value of the share you don’t own.
If you’re looking to buy with Shared Ownership you’ll need a mortgage in the same way you would if you were buying
on the open market. Shared Ownership mortgages are available from most mortgage lenders, who will lend to you if
you have a 5% deposit or greater. This means that you could buy your dream home, in your dream area, without needing
a big deposit or big salary.
ARE YOU ELIGIBLE?
There are two things to think about when looking into Shared Ownership:
• You must earn less than £90,000.
• You must be a first-time buyer, or no
Longer have your name attached to a house (if you are selling your home at the moment, speak to your provider,
they will be able to advise you).
Key Features
Abbey Place has created a bold and sleek design statement with clean, contemporary lines; harnessing open space with natural light and texture and finished to an exacting standard throughout. Connecting residents to the neighbourhood are a range of communal terraces, green roofs, balconies, and the street colonnade. This is a constantly changing, dynamic way of living.
Kitchen
- Pronorm X-Line matt finish, handleless kitchen
- with soft close function
- Stainless steel sink with mixer tap
- 39mm laminate worktop with upstand
- Integrated Indesit fridge freezer
- Indesit ceramic hob
- Built-in Indesit electric oven and integrated microwave
- Recirculating extractor
- Integrated Indesit dishwasher
- Integrated Indesit washer dryer
Bathrooms
- Modern white sanitaryware
- Wall mounted WC with concealed dual flush cistern
- High quality chrome taps
- Chrome finish electric towel rails
- Doramics matte white mosaic wall tiles
- Alaplana Lecco grey 600x300mm floor tiles
General
- Khars Niagra vinyl click flooring
- Glide internet with wifi and hardwired sockets to most rooms
- Electronic video access control with fobs for residents and call buttons for visitors
- Underfloor heating with Heat Interface Units in utility cupboards
- Combined Heat & Power on site with heating/hot water system
- Low-energy LED lighting with strip LED lighting to bathroom and kitchen
- Chain operated roller blinds to all windows
- Secure parking with cycle store and racks
External
- Private external amenity via balconies, podium
- terraces and “Juliet” balconies
- Shared external gardens at 1st floor Podium Level
- Terrace and 21st floor Rooftop Terrace of the
- Eastern Building
- Public space at the East Building colonnade
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: New build - Council tax band to be determined
Property Downloads
Floor Plan 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 £379,000, £4,738 Min Deposit. Calculated using a representative rate of 5.26%
