1 bedroom apartment for sale
2 Aqua Vista Square, E3 4FF
Share percentage 30%, full price £320,000, £4,800 Min Deposit.
Share percentage 30%, full price £320,000, £4,800 Min Deposit
Monthly Cost: £1,240
Rent £390,
Service charge £328,
Mortgage £522*
Calculated using a representative rate of 4.78%
Calculate estimated monthly costs
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.
** This home can also be purchased outright (100% of the value) which is £320,000 and a purchaser would not need to meet the eligibility criteria listed above.
Summary
This superb modern home is available to buy from as little as £96,000 with a 30% share!
Description
Located in the vibrant heart of Bow, this bright and well-presented one-bedroom first-floor flat offers a perfect blend of comfort and convenience.
The property features a spacious open-plan living, kitchen, and dining area, ideal for relaxing or entertaining, with plenty of natural light throughout. The modern kitchen is well-equipped with integrated appliances and ample storage.
The bedroom is generously sized, providing a peaceful retreat, and the contemporary bathroom is finished to a high standard. A private balcony extends your living space, perfect for enjoying your morning coffee or unwinding in the evening.
Residents will benefit from a wealth of local amenities nearby, including a variety of independent cafés, restaurants, and shops just a short walk away. For outdoor leisure, Victoria Park and Mile End Park are within easy reach, offering beautiful green spaces and recreational facilities. Excellent transport links are available via Bow Road and Bow Church Underground stations, providing quick access into central London and beyond.
PRICING & AFFORDABILITY
Full Market Value: £320,000
30% Share Price: £96,000 (rent £390pcm)
Minimum 5% Mortgage Deposit (30% share): £4,800
Approximate Service Charges: £328pcm*
Lease:116 Years
Key Features
Modern Shared Ownership Home
One Bedroom
One Bathroom
Open Plan Living
Private Balcony
Particulars
Tenure: Leasehold
Lease Length: 116 years
Council Tax Band: Not specified
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 30%, full price £320,000, £4,800 Min Deposit. Calculated using a representative rate of 4.78%