1 bedroom apartment for sale
Merriam Close, Highams Park, London, E4 9GF
Share percentage 35%, full price £315,000, £11,025 Min Deposit.
Share percentage 35%, full price £315,000, £11,025 Min Deposit.
Monthly Cost: £1,424
Rent £579,
Service charge £288,
Mortgage £557*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a One Bedroom Flat on a Shared Ownership (Part Buy/Part Rent) Basis
Description
This generously-sized, one-bedroom flat is on the ground floor of a recently-constructed development and appears in excellent condition throughout. The property has a twenty-foot, dual-aspect reception room with open-plan kitchen area featuring sleek, handle-less units and integrated appliances. A glazed door leads from the living area out to a south/south-east-facing terrace. There is a spacious bedroom, a stylish bathroom and a pair of storage/utility cupboards in the entrance hallway. Well insulated walls and floor, high performance glazing and a communal heating/hot water system all contribute towards a very good energy-efficiency rating. The flat comes with use of a parking space and Merriam Close is also just a short walk from Highams Park Station, for London Overground services between Chingford and Liverpool Street.
SHARED OWNERSHIP (Advertised price represents 35% share. Full market value £315,000).
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [HERE; https://tinyurl.com/35jcadu2]
(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)
Housing Association: ISHA (Islington & Shoreditch Housing Association).
Tenure: Leasehold (125 years from 01/01/2021).
Minimum Share: 35% (£110,250).
Shared Ownership Rent: £578.92 per month (subject to annual review).
Service Charge: £287.61 per month (subject to annual review).
Ground Rent: £200.00 for the year.
Guideline Minimum Income: Dual - £48,400 | Single - £55,400 (based on minimum share and 10% deposit).
Council Tax: Band C, London Borough of Waltham Forest.
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted (except assistance animals).
Key Features
- Guideline Minimum Deposit £11,025
- Guide Min Income - Dual £48.4k Single £55.4k
- Ground Floor with Private Terrace
- Approx. 590 Sqft Gross Internal Area
- High Performance Glazing
- Communal Heating and Hot Water System
- Parking Space
- Short Walk from Highams Park Station
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: C
Property Downloads
Key Information Document Floor Plan BrochureMap
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 35%, full price £315,000, £11,025 Min Deposit. Calculated using a representative rate of 4.59%