1 bedroom apartment for sale
Terrace Apartments, 40 Drayton Park, N5 1PW
Share percentage 35%, full price £440,000, £15,400 Min Deposit.
Share percentage 35%, full price £440,000, £15,400 Min Deposit.
Monthly Cost: £1,531
Rent £596,
Service charge £154,
Mortgage £781*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Summary
A fantastic 1-bedroom apartment with a private balcony in a modern apartment block in Islington
Description
What happens after I register my interest?
You will receive an email confirmation that will confirm next steps including how to book a viewing, completing a financial assessment with a mortgage advisor and completing a Shared Ownership Application Form.
If you don’t receive this email within an hour of your registration, please check your spam or junk folders and set your spam filter to allow incoming emails from Peabody. If you still haven’t received the email, please contact enquiries@peabodynewhomes.co.uk and our team will be able to help you.
What is Resale Shared Ownership?
Through Shared Ownership you can buy up to 75% of the property, paying a low-cost rent on the remaining unpurchased 'share' of the home. What's more, your mortgage deposit is based on the value of the share you buy, not the full market value, making these homes even more affordable than buying through private sale. With resale properties, you must purchase your first share at the percentage the existing leaseholder owns or more.
Financial information
• Remaining lease term: 107 years
• Annual ground rent amount: £0
• Ground rent review period: No ground rent to pay until final staircasing.
• Annual service charge amount: £1,843.92
• Service charge review period: Annually
• Council tax band: C
*Financial information correct as of 04.04.2024
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
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 35%, full price £440,000, £15,400 Min Deposit. Calculated using a representative rate of 4.64%
