2 bedroom flat for sale

Shared Ownership

This superb modern home is available to buy from as little as £130,000 with a 25% share!

Being offered to the market with no onward chain and conveniently set within walking distance of local amenities and Dalston Junction overground station is this spacious 2nd floor apartment. The accommodation features a 15ft kitchen/diner with a separate lounge, two double bedrooms and bathroom.

This property is extremely well-situated, within 10 minutes of Islington's vibrant Upper Street, the bustling boutiques, restaurants and nightlife of Shoreditch, Hoxton, London Fields and Dalston. Transport links also place the City and Canary Wharf.

PRICING & AFFORDABILITY

Approximate Size: 710 sq ft

Full Market Value: £520,000

25% Share Price: £130,000 (rent £1,018.65pcm)
Minimum 5% Mortgage Deposit (25% share): £6,500
Approximate Service Charges: £225.54 pcm*
Shared Ownership Lease: approx. 977 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.

* This home can also be purchased outright (100% of the value) which is £520,000 and a purchaser would not need to meet the eligibility criteria listed above.