1 bedroom apartment for sale
Shillingshaw Lodge, 208 Butchers Road, E16 1PT
Share percentage 25%, full price £275,000, £3,438 Min Deposit.
Share percentage 25%, full price £275,000, £3,438 Min Deposit
Monthly Cost: £1,069
Rent £473,
Service charge £223,
Mortgage £373*
Calculated using a representative rate of 4.78%
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. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.
Summary
This superb modern home is available to buy from as little as £68,750 with a 25% share!
Description
Shared Ownership
This superb modern home is available to buy from as little as £68,750 with a 25% share!
Set on the second floor of a modern development, this stylish one bedroom apartment offers thoughtfully arranged living space. The property features a bright and spacious open-plan kitchen and reception area, ideal for entertaining or relaxing, which leads directly onto a private balcony. The double bedroom is generously sized, and there's also a conveniently located storage cupboard. Contemporary finishes throughout ensure a sleek and comfortable living environment, perfect for first time buyers or those seeking a smart investment opportunity.
Situated in the revitalised Royal Docks area, the apartment enjoys a vibrant and rapidly growing neighbourhood with a wealth of amenities. Residents can take advantage of nearby shops, cafes, and waterside bars, as well as the green spaces around Royal Victoria Dock and Canning Town Recreation Ground. The area is also home to the renowned ExCeL London and offers easy access to local markets and cultural events.
Butchers Road benefits from excellent transport links, with Canning Town and Custom House Stations just a short walk away. Canning Town interchange offers access to both the Jubilee Line and the DLR, ensuring swift connections to Canary Wharf, Stratford, and the West End whilst Custom House is part of the Elizabeth Line which opens up a plethora of travel options within the capital. London City Airport is also conveniently close, making this location ideal for both professionals and frequent travellers. Whether you're commuting into central London or exploring the East End, this property places you right at the heart of it all.
PRICING & AFFORDABILITY
Full Market Value: £275,000
25% Share Price: £68,750 (rent £472.66pcm)
Minimum 5% Mortgage Deposit (25% share): £3,438
Approximate Service Charges: £222.95pcm*
Lease: approximately 990 years remaining
Key Features
Modern Shared Ownership home
Private balcony
No onward chain
Excellent condition throughout
Second floor
Walking distance to Canning Town and Custom House stations
Particulars
Tenure: Leasehold
Lease Length: 990 years
Council Tax Band: B
Property Downloads
Floor PlanMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: n/a
Outside Space/Garden: n/a
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
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 £275,000, £3,438 Min Deposit. Calculated using a representative rate of 4.78%
