1 bedroom apartment for sale
Prioress House, Loxford Road, IG11 8SD
Share percentage 55%, full price £230,000, £6,325 Min Deposit.
Share percentage 55%, full price £230,000, £6,325 Min Deposit
Monthly Cost: £1,128
Rent £240,
Service charge £201,
Mortgage £687*
Calculated using a representative rate of 4.78%
Calculate estimated monthly costs
Summary
A 1 bed shared ownership property available in Barking, Greater London
Description
This home has been created by Home Group, a registered housing provider in the UK. SO Resi is acting on behalf of Home Group to bring this property to the market.
Bright and modern one-bedroom apartment now available in Barking through Shared Ownership.
The property features an entrance hallway, private balcony, kitchen, one bedroom, and one bathroom.
There will be charges payable to the landlord upon completion. Please enquire for further information.
Available for £126,500 for 55% share based on the marketing figure of £230,000.
Monthly rent - £240.34
Monthly Service Charge - £201.19
Total Monthly Charge - £441.53 plus mortgage required for 55% share.
An annual rent increase takes place every April
LocationPrioress House is ideally located on Loxford Road in Barking, offering convenient access to a variety of local amenities. Within a 10-minute walk, residents can reach Barking Town Centre, home to major supermarkets and retail shops.
Fitness enthusiasts will appreciate nearby local gyms while Barking Park just a 12-minute walk away, provides green space for outdoor activities. Healthcare needs are well served with Barking Hospital and several GP practices within a 5–10 minute drive.
Barking Station is just a short 7-minute walk from the property. The station offers District Line, Hammersmith & City Line, London Overground, and c2c services, making commuting into Central London quick and easy—Liverpool Street and Fenchurch Street stations are reachable in approximately 25 minutes. Multiple bus routes also operate nearby, enhancing connectivity across East London.
EPC ratingEnergy rating band - C
Environmental rating band - A
Lease informationYears remaining on lease: 114
In certain cases, the remaining length of the lease on a property can impact the availability of mortgages to prospective purchasers and the future saleability of the home. We recommend that you speak to your solicitor and your financial advisor to ensure that the lease length is suitable for your needs.
Other informationHow we allocate Shared Ownership homes
We offer homes on a first-come, first-served basis, as long as you meet all the eligibility criteria. Sometimes, we give priority to people who live or work in the same area as the home. This is based on rules set by the local authority. All Shared Ownership providers must publish an allocations policy, which explains how they decide who gets a home.
If the home is managed by SO Resi and MTVH
You can read the Shared Ownership allocation policy on the MTVH website. SO Resi is the Shared Ownership brand of MTVH, a housing association.
If the home is managed by another provider
Visit their website to find their allocation policy. Contact us if you have any questions.
Key Features
- One-bedroom apartment
- Private balcony
- Local amenities nearby
- Central London < 30 min
- Available for 55% share
- 5% minimum deposit only
Particulars
Tenure: Leasehold
Lease Length: 114 years
Council Tax Band: Not specified
Property Downloads
Key Information Document 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 55%, full price £230,000, £6,325 Min Deposit. Calculated using a representative rate of 4.78%
