1 bedroom apartment for sale
Prioress House, 5-7 Loxford Road, Barking, IG11 8SD
Share percentage 45%, full price £225,000, £10,125 Min Deposit.
Share percentage 45%, full price £225,000, £10,125 Min Deposit
Monthly Cost: £1,020
Rent £317,
Service charge £201,
Mortgage £502*
Calculated using a representative rate of 4.42%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a One Bedroom Apartment on a Shared Ownership (Part Buy/Part Rent) Basis
Description
A good-sized, one-bedroom apartment on the first floor of this modern development. The property has a stylish bathroom just off the entrance hallway and a spacious bedroom with west-facing balcony. The smart, fully-fitted kitchen is semi-open-plan to the reception and both feature attractive flooring. Well insulated walls, modern double glazing and a communal heating/hot water system make for a very good energy-efficiency rating. Barking Station, for District Line, C2C and London Overground services, is just a short walk away. Barking Park and the shops and other amenities of the town centre are also within easy reach.
SHARED OWNERSHIP (Advertised price represents 45% share. Full market value £225,000).
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ https://tinyurl.com/5fxyx89w]
(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)
Housing Association: Home Group.
Tenure: Leasehold (125 years from 01/04/2014).
Minimum Share: 45% (£101,250).
Shared Ownership Rent: £317.43 per month (subject to annual review).
Service Charge: £201.19 per month (subject to annual review).
Guideline Minimum Income: Dual - £31,600 | Single - £37,900 (based on minimum share and 10% deposit).
Council Tax: Band C, London Borough of Barking & Dagenham.
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets only permitted with a revocable pet licence (from Home Group) at a cost of £125+VAT. There is no parking space offered with this property.
Key Features
- Guideline Minimum Deposit £10,125
- Guide Min Income Dual £31.6k | Single £37.9k
- First Floor (building has a lift)
- Approx. 531 Sqft Gross Internal Area
- Spacious Bedroom
- Stylish Bathroom
- Very Good Energy Efficiency Rating
- Short Walk from Barking Station
Particulars
Tenure: Leasehold
Lease Length: 114 years
Council Tax Band: C
Property Downloads
Floor Plan BrochureMap
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: No
Outside Space/Garden: Yes - Private Balcony
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 45%, full price £225,000, £10,125 Min Deposit. Calculated using a representative rate of 4.42%