Shared Ownership
This superb modern home is available to buy from as little as £116,250 with a 25% share!
Situated on the fourth floor of a well-positioned development on Palmer Road, this bright and thoughtfully arranged two-bedroom apartment offers contemporary city living in the heart of East London. The property benefits from a spacious layout with excellent natural light throughout, creating a welcoming and comfortable home.
The reception room provides an inviting living and dining space with direct access to a private balcony, perfect for relaxing or entertaining. Adjacent to the living area, the separate kitchen is well configured with ample storage and workspace, offering practicality for everyday living.
Both bedrooms are well proportioned, with the principal bedroom enjoying a particularly bright aspect. A modern bathroom, generous hallway, and multiple built-in storage cupboards further enhance the functionality of the apartment.
Although there is no allocated parking, there is a option to purchase or rent a parking space
Palmer Road is conveniently located for the vibrant amenities of Bethnal Green and Shoreditch, with a wide selection of cafés, restaurants, independent shops, and green spaces nearby. Excellent transport connections provide easy access across the City, Canary Wharf, and the wider London area, making this an ideal home for those seeking both convenience and lifestyle.
PRICING & AFFORDABILITY
Full Market Value: £465,000
25% Share Price: £116,250 (rent £1218.46 pcm)
Minimum 5% Mortgage Deposit (% share): £5812.50
Approximate Service Charges: £168.69 pcm*
Lease: 107 years
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 £465,000 and a purchaser would not need to meet the eligibility criteria listed above.
