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 for shared ownership with Hackney Sales, you must be able to answer YES to the following questions:
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? If you are not sure, you can speak to an independent mortgage advisor
Are your current mortgage or rent payments up to date?
Do you have a good credit history (no bad debts or County Court Judgements), and can you afford the regular payments and cost involved in buying and running a home?
Do you have savings or are you able to easily access at least £4,000 to cover the costs of buying a home? This is a guideline figure, and the actual amount you need will depend on a number of factors
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? Or do you have the cash funds available to buy the share without a mortgage?
Summary
Stunning one bed apartment in Hackney Wick
Description
Located in a small development in Hackney Wick, Hackney Sales are pleased to offer for sale this one bedroom ground floor apartment, complete with a private garden and stunning interiors.
This property offers 49 sqm/521 sq ft of living space, with a separate kitchen, and has a well presented private garden that wraps round two sides of the property. The property also has an allocated parking space and private entrance door.
This property is located a five minute walk from Hackney Wick station, the River Lea and the bars and eateries these areas have to offer. Also located within easy walking distance are the Olympic Park (10 mins) and Westfield Stratford City (25 mins).
Gross household income required from £53,000
Minimum deposit from £19,000*
Email sales@hackney.gov.uk to express your interest. We will put you in touch with a mortgage advisor who will complete a headline affordability assessment. You will then be invited to view the property.
*Based on assumed mortgage interest rates and lender requirements at the time of a mortgage application. If you have a higher deposit but a lower income than the minimums displayed, you may still meet the affordability criteria. Financial assessments will be completed based on individual circumstances.
Key Features
Separate kitchen
Allocated parking space
Boiler (recently replaced)
Some White Goods included
Outside space
Well presented interiors
Particulars
Tenure: Leasehold
Lease Length: 101 years
Council Tax Band: B
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 50%, full price £380,000, £19,000 Min Deposit. Calculated using a representative rate of 4.64%
