2 bedroom apartment for sale
Flat 3, Byron Court, 25-31 South Street, Quadrant Arcade, RM1 1NJ
Share percentage 40%, full price £280,000, £11,200 Min Deposit.
Share percentage 40%, full price £280,000, £11,200 Min Deposit.
Monthly Cost: £1,025
Rent £294,
Service charge £163,
Mortgage £568*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Are you eligible for a Shared Ownership home?
Eligibility will vary depending on which property you are looking at purchasing, the property size and whether there are any criteria imposed by the local authority.
General Shared Ownership eligibility criteria
- You must be aged 18 or older.
- Your annual household income if buying outside of London must be less than £80,000.
- Your annual household income if buying in London must be less than £90,000.
- You will normally be a first time buyer or be in the process of selling your home. You must not own any other property at the time you buy your new home.
- You should not be able to afford to buy a home on the open market which is suitable for your housing needs.
- You must be able to show you are not in rent or mortgage arrears.
- You must be able to demonstrate that you have a good credit history (no County Court Judgements or bad debts) and can afford the costs and regular payments involved in buying a home.
Please note: You should always check the eligibility required with the specific development, as there may be specific criteria.
Priority for Shared Ownership:
In some instances priority for Shared Ownership properties can be given to applicants:
- That work for the Armed Forces / Ministry of Defence.
- Who are council and housing association tenants.
- Who live or work in the borough in which the property is located over those who currently live or work outside it.
- On some developments, secondary priority is given to applicants who live or work in the neighbouring borough
Summary
A two-bedroom, two bathroom flat based in Romford
Description
Located in the centre of Romford is this two bedroom flat. The property benefits from two double bedrooms with bedroom one benefitting from an en-suite shower room, an open plan living room/fitted kitchen and a family bathroom.
Key Features
- Two Bed
- En-Suite
- Open-plan Living/ Kitchen
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: Not specified
Property Downloads
Energy CertificateMap
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 40%, full price £280,000, £11,200 Min Deposit. Calculated using a representative rate of 4.64%
