2 bedroom apartment for sale
Lottage Mansions, IG11 0YJ
Share percentage 45%, full price £320,000, £14,400 Min Deposit.
Share percentage 45%, full price £320,000, £14,400 Min Deposit.
Monthly Cost: £1,445
Rent £463,
Service charge £251,
Mortgage £731*
Calculated using a representative rate of 4.64%
Calculate estimated monthly costs
Summary
Long Lease term, Private balcony, Good EPC Rating
Description
Shared Ownership
Full Market Value: £320,000
Share Value (45%): £144,000
Monthly Rent: £463.14
Service Charge: £250.95
Council Tax Band: C
125 year lease commenced November 2017- 118 years remaining
EWS1 certification is available for this property - B1 Rating.
L&Q welcomes you to view this two bedroom, third floor apartment.
Thisbright andspacioustwo bedroom apartment consistsof astylishopen-plan kitchen and living area, flooded with natural light from wide floor-length windows and door leading to private balcony. The kitchen is fitted with hi8gh gloss grey wall and base units, with under-cupboard lighting, and a black worktop. The kitchen also benefits from integrated appliances including a fridge freezer, oven, hob, extractor fan and dishwasher. Spacious main double bedroom benefitting from en-suitewith showerand built-in storage cupboards. Bright and airy second double bedroom with floor-length windows. The bathroom comes complete with a white three-piece suite with a shower over bath and a stone tile surround and heated towel rail. Additional double storage cupboards in hallway. This property benefits from a sinking fund. A sinking fund is a long-term savings plan that leaseholders contribute to every month through service charges. This is used to pay for major works that are required, such as replacing a roof.
Barking Riverside has the brightest of futures. It already has state-of-the art rail and river stations. Barking Riverside Pier is now the most eastern stop on the Uber Boat by Thames Clippers' RB1 route. This connects you to the DLR and Elizabeth Line from Woolwich. Barking Riverside overground, a short walk away, gives direct access to Stratford in approx 14 minutes and Liverpool Street in approx 25 mins.
With parklands now open, provision for 65,000 square metres of shopping, restaurants, cafes and community and leisure facilities and healthcare coming soon. The Riverside School has been awarded Ofsted 'outstanding' which makes this area extremely attractive to families.
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 £54,177. If you are offered the home, 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 July 2024.
Key Features
- Private balcony
- Long lease length
- Good EPC rating
- En-Suite to master bedroom
- Additional storage cupboards to hallway
Particulars
Tenure: Leasehold
Lease Length: 118 years
Council Tax Band: C
Property Downloads
Key Information Document Floor Plan Energy CertificateVirtual Tour
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 45%, full price £320,000, £14,400 Min Deposit. Calculated using a representative rate of 4.64%
