Studio apartment for sale
27 Albert Embankment, London, SE1 7AP
Share percentage 50%, full price £500,000, £25,000 Min Deposit.
Share percentage 50%, full price £500,000, £25,000 Min Deposit
Monthly Cost: £2,212
Rent £689,
Service charge £283,
Mortgage £1,240*
Calculated using a representative rate of 4.42%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a Studio Apartment on a Shared Ownership (Part Buy/Part Rent) Basis
Description
A rare chance to buy a shared-ownership property in such a desirable, central location. This recently-constructed development is opposite Tate Britain, minutes from Lambeth Bridge and only a short walk from Vauxhall Station. A huge range of sights, attractions and transport options are within easy reach. The apartment available is on the second floor and has large-format tiles in the stylish shower room with attractive wood flooring elsewhere. There is a compact but high-spec kitchen and the living area opens onto a rear (south/south-east) facing winter garden. Double pocket-doors reveal the 'bedroom', which includes a built-in wardrobe, and a storage/utility cupboard has been provided in the entrance hallway. The block has a concierge and the floor is served by three lifts.
SHARED OWNERSHIP (Advertised price represents 50% share. Full market value £500,000).
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ https://tinyurl.com/4m2hpdwd]
(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: Clarion.
Tenure: Leasehold (125 years from 01/03/2020).
Minimum Share: 50% (£250,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £689.26 per month (subject to annual review).
Service Charge: £283.15 per month (subject to annual review).
Ground Rent: £300.00 for the year.
Guideline Minimum Income: Dual - £84,100 (based on minimum share and 10% deposit) | Single - £89,800 (based on minimum share and 20% deposit)..
Council Tax: Band F, London Borough of Lambeth. Priority is given to applicants living and/or working in this local authority.
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 not permitted (except assistance animals). There is no parking space offered with this property.
Key Features
- Guide Dual Income £84.1k 10% deposit £25k
- Guide Single Income £89.6k 20% deposit £50k
- Second Floor (building has a lift)
- Approx. 537 Sqft Gross Internal Area
- Well-Defined 'Bedroom'
- Stylish and Spacious Shower Room
- Very Good Energy Efficiency Rating
- South/South-East-Facing Winter Garden
- Concierge
- Short Walk to Vauxhall Station
Particulars
Tenure: Leasehold
Lease Length: 119 years
Council Tax Band: F
Property Downloads
Key Information Document 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 50%, full price £500,000, £25,000 Min Deposit. Calculated using a representative rate of 4.42%
