1 bedroom apartment for sale
Clarence Avenue, Ilford, IG2 6FB
Share percentage 75%, full price £290,000, £10,875 Min Deposit.
Share percentage 75%, full price £290,000, £10,875 Min Deposit.
Monthly Cost: £1,678
Rent £221,
Service charge £218,
Mortgage £1,239*
Calculated using a representative rate of 5.26%
Calculate estimated monthly costs
Summary
A 1 bed shared ownership property available in Ilford, London
Description
Modern, bright & spacious one-bedroom apartment now available in London through Shared Ownership.
The property comprises a wide living room with a private balcony, an open-plan fitted kitchen, and a large ensuite bedroom. This could be ideal for a couple or a single person.
The flat is on the first floor of a relatively modern construction (circa 2016).
Available for £217,500 for 75% share based on the marketing figure of £290,000.
Monthly rent - £221.02
Monthly Service Charge - £218.19
Total Monthly Charge - £439.21 plus mortgage required for 75% share.
An annual rent increase takes place every April
LocationThe property sits in a tranquil residential area in Grants Hill, north of Ilford's town centre, which is a little more than a mile away.
The location is excellent for transportation, thanks to the several underground stations, with Central and Elizabeth Lines available, allowing to reach Central London in less than half an hour.
All amenities are nearby, with more pubs, restaurants and shops in Gants Hill and more in Ilford.
EPC ratingEnergy rating band - B
Environmental impact band - A
Years remaining on lease: 116
In certain cases, the remaining length of the lease on a property can impact the availability of mortgages to prospective purchasers and the future saleability of the home. We recommend that you speak to your solicitor and your financial advisor to ensure that the lease length is suitable for your needs.
Key Features
- One-bedroom apartment
- Private balcony
- Modern building (2016)
- Great transport links
- Available for 75% share
- 5% minimum deposit only
Particulars
Tenure: Not specified
Council Tax Band: Not specified
Property Downloads
Floor PlanMap
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 75%, full price £290,000, £10,875 Min Deposit. Calculated using a representative rate of 5.26%
