Studio apartment for sale
Hampton Tower, Marsh Wall, E14 9LW
Share percentage 50%, full price £500,000, £12,500 Min Deposit.
Share percentage 50%, full price £500,000, £12,500 Min Deposit.
Monthly Cost: £2,421
Rent £623,
Service charge £373,
Mortgage £1,425*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
Eligibility
You may be eligible for this property if:
· Register your interest (pink button on the right)
· Have a passed initial financial assessment with one of the below companies:
SRC Mortgage Solutions (https://www.srcmortgagesolutions.com/)
TMP The Mortgage People (tmpmortgages.co.uk)
Mortgage Advice Bureau | UK’s leading mortgage intermediary (https://www.mortgageadvicebureau.com)
· You have a gross household income of no more than £90000 per annum when eligible to purchase.
· Live or work in the borough
· You are unable to purchase a suitable home to meet your housing needs on the open market. (Shares cannot be purchased in cash unless you are unable to obtain a mortgage due to age or religious grounds)
· You do not already own a home, or you will have sold your current home before you purchase or rent.
· To purchase this 50% minimum share you will need a minimum joint household income of £63,154 and available savings of £12,500 for a 5% mortgage deposit.
Summary
Southern Housing are delighted to offer for sale this well-presented 1 bed, 13th floor studio apartment in London.
Description
Along with the monthly rent and service charges, a £400 Ground Rent is also payable for this property - a £200 split payment in March and September each year.
Resident facilities include 24h concierge, gym, pool, spa, bar, lounge and private screening room.
56th floor terrace
Lease Term: 125 years from commencement date 27-09-2019
EPC Rating: B - 83
Council: Tower Hamlets
Council tax band: D
Total floor area- 45
Viewings by appointment only. Please note Social Distancing measures need to be followed. Please contact sales.services2@southernhousing.org.uk for the vendors details.
Once you have viewed the property, if you wish to apply, application form attached to the viewing email, need to be returned to Southern Housing asap - on a first come first serve basis.
Please note the successful applicant will be required to pay a £250 non-refundable reservation fee once offered the property.
Key Features
Short walk to Canary Wharf Station (10 minutes)
Particulars
Tenure: Leasehold
Lease Length: 120 years
Council Tax Band: D
Map
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, £12,500 Min Deposit. Calculated using a representative rate of 5.26%
