3 bedroom apartment for sale
Bermuda Way, Stepney, E1 4GB
Share percentage 30%, full price £570,000, £17,100 Min Deposit.
Share percentage 30%, full price £570,000, £17,100 Min Deposit.
Monthly Cost: £2,163
Rent £1,017,
Service charge £283,
Mortgage £863*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Summary
Excellent Transport Links - Private Patio - Energy Efficient
Description
SHARED OWNERSHIP
Full Market Value - £570,000
You Pay (30%) - £171,000
Monthly Rent - £1,017.20
Service Charge - £283.43
Annual Ground Rent - N/A
LEASEHOLD : 99 year lease commenced January 2013 - 86 years remaining
COUNCIL TAX BAND : F
NO PARKING
New guidance, from the Royal Institute of Chartered Surveyors (RICS), means that lenders should no longer require an EWS1 form for this property. However, we cannot guarantee that all Mortgage lenders, brokers and valuers are utilising the same criteria.
Ideally located between three stations; Stepney Green (District and Hammersmith and City), Mile End Station (District, Hammersmith, and City and Central) and Limehouse (DLR) you have fantastic links into Canary Wharf, Central London and beyond. Also located in short proximity to Whitechapel Crossrail services - serving Bond Street in 10 minutes and Heathrow in 35 minutes.
The apartment is moments from Mile End Park which flows into Victoria Park, which hosts exciting festivals, events, entertainment, and leisurely strolls on the River Thames Path.
The buyer will require a deposit to obtain a mortgage for this property.
To meet the requirements for this property we require as a guideline, a minimum household income of £80,347. If you are offered the property, your ability to afford this property will be assessed at your financial interview. Please note that applicants should purchase the maximum share that they can afford and sustain.
Only applicants who are registered with London and Quadrant will be eligible to be offered a property in one of our schemes. If you are not registered please visit our website www.lqhomes.comand register to obtain your unique reference number.
Your home is at risk if you fail to keep up repayments on a mortgage, rent or other loan secured on it. Please make sure you can afford the repayments before you take out a mortgage.
These particulars are of opinion only, are intended to give a fair description and do not form the basis of a contract. The descriptions and all other information are believed to be correct as of May 2024.
Key Features
- Private patio area
- Two bathrooms
- Additional storage cupboards to hallway
- Excellent transport links
- One single bedroom/home study
- Good EPC rating - C
- Communal heating system
- Own front door
Particulars
Tenure: Leasehold
Lease Length: 86 years
Council Tax Band: F
Property Downloads
Key Information Document Floor Plan Energy CertificateVirtual Tour
Map
Material Information
Total rooms:
Furnished: Enquire with provider
Washing Machine: Enquire with provider
Dishwasher: Enquire with provider
Fridge/Freezer: Enquire with provider
Parking: No
Outside Space/Garden: n/a - Communal Garden
Year property was built: Enquire with provider
Unit size: Enquire with provider
Accessible measures: Enquire with provider
Heating: Enquire with provider
Sewerage: Enquire with provider
Water: Enquire with provider
Electricity: Enquire with provider
Broadband: Enquire with provider
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 30%, full price £570,000, £17,100 Min Deposit. Calculated using a representative rate of 4.59%
