3 bedroom apartment for sale
Flat 1, 59 Edward Point, IG11 7BT
Share percentage 25%, full price £492,000, £6,150 Min Deposit.
Share percentage 25%, full price £492,000, £6,150 Min Deposit.
Monthly Cost: £1,807
Rent £846,
Service charge £260,
Mortgage £701*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
- Your household income does not exceed £80,000 (outside of London) and £90,000 (inside of London)
- 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.
Summary
Wonderful 3-bedroom apartment in the Abbey Quays development. The price advertised represents purchasing a 25% share of the home.
Description
Wonderful 3-bedroom apartment in the Abbey Quays development. The price advertised represents purchasing a 25% share of the home.
About the Development
Abbey Quay, situated in Barking's vibrant new riverside district, presents a range of 1, 2 & 3 bedroom apartments built by award-winning, Weston Homes. Blending urban convenience with a cosy neighbourhood atmosphere, Abbey Quay offers the ideal fusion of city living and village charm.
Each apartment in this modern village boasts open plan living and a private balcony or terrace, adding to its stylish appeal. Enjoy the scenic beauty of tree-lined streets and breathtaking views while having access to on-site amenities such as shops, cafes, restaurants, and inviting communal areas. Discover your shared ownership home today at Abbey Quays.
About the Area
Barking offers everything at your doorstep. There is a selection of local amenities including supermarkets, eateries, cinemas and much more.
Barking station is a 10 minute walk from Abbey Quay and provides regular train services to Canary Wharf and other central London location such as Euston and Victoria.
Furthermore, London City airport is a mere 12 minute drive from the development, which offers a selection of domestic and international flights.
Shared Ownership
The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller upfront payment. With Shared Ownership, you buy a share of your home using a mortgage from a bank or building society and pay a subsidised rent on the share you did not purchase. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright. You can buy a minimum 50% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.
T&Cs
*Please note images are for information purposes only and may not represent a true likeness for the units being sold. Some or all images have been digitally furnished to represent how the home could be laid out and the final colours/appearance may differ from the images.
*Services Charges will apply, speak to our Sales Agent for more information. Costs are subject to change
Key Features
- 3 bedroom 1st floor apartment
- Flooring throughout
- Storage space
- Modern fitted kitchen
- Open plan living
- Modern fitted kitchen
- Close to local amenities
- There will be an added service charge
Particulars
Tenure: Not specified
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 25%, full price £492,000, £6,150 Min Deposit. Calculated using a representative rate of 5.26%
