Shared Ownership

This superb modern home is available to buy from as little as £135,000 with a 30% share!

A well-presented second floor apartment located in a modern development in Whitechapel. This property provides well-planned and spacious accommodation consisting of two double bedrooms, spacious bathroom and an open plan kitchen/living space with a door to a private balcony. Please note this property does not have any allocated parking. There may be a possibility of renting a space in a nearby building via Tower Hamlets Community Housing.

Whitechapel is a vibrant area in East London with some well-regarded cultural sites including Whitechapel art gallery and Wiltons Music Hall. There are a variety of shops and dining options and Whitechapel is well serviced by both underground and overground trains via Whitechapel Station, Aldgate East Station and Shadwell Station.
Brick Lane offers a range of nightlife with many pubs, bars and clubs.


PRICING & AFFORDABILITY

Full Market Value: £450,000

30% Share Price: £135,000 (rent £716.09 pcm)
Minimum 5% Mortgage Deposit (30% share): £6,750
Approximate Service Charges: £428.57 pcm*
Shared Ownership Lease: approx. 90 years
Council Tax Band: D

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.

** This home can also be purchased outright (100% of the value) which is £450,000 and a purchaser would not need to meet the eligibility criteria listed above.
Service Charge: 4131.48.