1 bedroom flat for sale

Shared Ownership

This superb modern home is available to buy from as little as £115,000 with a 50% share!

A one bedroom apartment situated on the first floor of this modern development built in 2019. The property provides a bright and spacious open plan kitchen/living space, good size double bedroom and a modern bathroom. There is allocated parking for one car and additional visitors parking and the remaining lease is 119 years.

This property is located in Harlow, Essex. Harlow Town Railway Station provides direct services to London (Liverpool Street) and other areas. There is also convenient access to the M11 motorway and the A414 as well as local bus services. There are various shopping amenities nearby offering a who range of shops, cafes and eateries.

PRICING & AFFORDABILITY

Full Market Value: £230,000

50% Share Price: £115,000 (rent £347.47pcm)
Minimum 5% Mortgage Deposit (50% share): £5,750
Approximate Service Charges: £159.29pcm*
Shared Ownership Lease: approx. 119 years
Council Tax Band: B

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 £80,000
• 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 £230,000 and a purchaser would not need to meet the eligibility criteria listed above.