1/9
£70,000
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.
Shared Ownership
This superb modern home is available to buy from as little as £70,000 with a 25% share!
Set on the fourth 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: £280,000
25% Share Price: £68,750 (rent £481.25pcm)
Minimum 5% Mortgage Deposit (25% share): £3500
Approximate Service Charges: £222.95pcm*
Lease: approximately 990 years remaining
You can add locations as 'My Places' and save them to your account. These are locations you wish to commute to and from, and you can specify the maximum time of the commute and by which transport method.
Sown Shared Ownership