1 bedroom apartment for sale
Hale Point ,Ilford Hill, IG1 2ZL
Share percentage 30%, full price £300,000, £4,500 Min Deposit.
Share percentage 30%, full price £300,000, £4,500 Min Deposit.
Monthly Cost: £1,198
Rent £500,
Service charge £185,
Mortgage £513*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £90,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
*Service charges are estimated and may subject to change.
** This home can also be purchased outright (100% of the value) which is £300,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £90,000 with a 30% share!
Description
Located on the top floor (17th) within this modern apartment block and presented in immaculate condition throughout, the accommodation features an entrance hall that open through to an open plan lounge/kitchen/diner which is perfect for socialising and entertaining. Double doors open to a private balcony where you can enjoy far-reaching views over Ilford. This home also offers a spacious double bedroom and a bathroom.
Ilford mainline train station and Elizabeth line are just yards from the apartment block. There are local shops and restaurants literally on your doorstep with bus links to Romford and Stratford Westfield Shopping Centre
PRICING & AFFORDABILITY
Approximate Size: 581 sq ft
Full Market Value: £300,000
30% Share Price: £90,000 (rent £500pcm)
Minimum 5% Mortgage Deposit (30% share): £4,500
Approximate Service Charges: £185 pcm*
Shared Ownership Lease: approx. 121 years
Council Tax Band: C
ELIGIBILITY
Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.
To be eligible for shared ownership you would need to meet the following criteria:
• Your annual household income does not exceed £90,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.
*Service charges are estimated and may subject to change.
** This home can also be purchased outright (100% of the value) which is £300,000 and a purchaser would not need to meet the eligibility criteria listed above.
Key Features
Modern Shared Ownership home
Top Floor (17th) with stunning City views
Private balcony
Amazing 22ft x 18ft open plan lounge/kitchen/diner
Just yards from Ilford train station and Elizabeth Line
Walking distance from Wanstead Park
Particulars
Tenure: Leasehold
Lease Length: 121 years
Council Tax Band: C
Property Downloads
Floor PlanMap
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 30%, full price £300,000, £4,500 Min Deposit. Calculated using a representative rate of 5.26%