Share percentage 50%, full price £380,000, £19,000 Min Deposit.
Monthly Cost: £1,523
Rent £378,
Service charge £181,
Mortgage £964*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
To be eligible you must be able to answer YES to the following questions:
Do you live and/or work in Hackney?
Are you at least 18 years of age?
Is your annual gross household income less than £90,000?
Are you a first time buyer, i.e. you don’t already own a home? If you do already own a home, have you accepted an offer from a buyer and in the process of selling it?
Are you unable to afford to buy a home suitable for your housing needs on the open market?
Do you have enough savings or are you able to access a minimum 10% of the equity share you are buying, as a mortgage deposit?
This property is being sold at a 50% initial share.
Potential buyers will be assessed for their eligibility by a specialist financial advisor for an affordability assessment. If they are successful in their assessment, and meet the affordable housing eligibility criteria required then you will be considered for the property.
You can register your interest for the property on this form:
https://docs.google.com/forms/d/e/1FAIpQLSfweZo3orD9CmqVIJWZUgq9jaHZSmBvqvjYgfhAB_97mrmVgg/viewform?usp=sf_link
We will be looking for a household income of approx £53,000. to meet the affordability of this property.
Service charges and reserve fund costs approx £2171 per annum. * (£180.90 PCM)
Rent based on sale share is £377.98 per month.
Assumed total monthly cost is £1426.00
Only those who meet the affordability requirements will be contacted.
All details contained in the above advert are subject to change.
Summary
1 Bedroom ground floor apartment in Hackney Wick (Brinkworth Way)
Description
Built in 2001, this is a one-bedroom ground floor flat sitting within a small block. Situated in the vibrant area of Hackney Wick, close to Westfield Stratford and the Olympic Park, Victoria Park and Hackney Central areas.
The property provides a separate kitchen, living room, one bedroom and bathroom. (49sm)
There is an allocated parking space.
Priority will be given to those who live and/or work within Hackney and have done so for a period of 1 year.
The property benefits from:
Boiler (recently replaced)
Private door and own entrance
Some White Goods included
Appliances and fittings
Outside space
Own entrance door
Key Features
The property is positioned no more than a stroll from Hackney Wick overground station and the popular Hackney Wick area, and Victoria Park which also boasts a Sunday market, also located a short walk from the popular Olympic Park and Westfield Stratford shopping centre.
Ideally located for Hackney Wick, with vibrant shops and nightlife.
Close to Hackney Wick Station.
Particulars
Tenure: Leasehold
Lease Length: 101 years
Council Tax Band: Not specified
Property Downloads
Floor Plan Energy CertificateMap
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 50%, full price £380,000, £19,000 Min Deposit. Calculated using a representative rate of 4.64%
