2 bedroom apartment for sale
Wellington House, RM2 6JD
Share percentage 50%, full price £285,000, £14,250 Min Deposit.
Share percentage 50%, full price £285,000, £14,250 Min Deposit.
Monthly Cost: £1,252
Rent £421,
Service charge £112,
Mortgage £719*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Summary
Garage and allocated parking space / Great transport links / Long term lease
Description
Shared Ownership
Full Market Value: £285,000
Share Value (50%): £ 142,500
Monthly Rent: £420.51
Service Charge: £123.86
Council Tax Band: D
125 year lease commenced April 2004 - 104 years remaining
EWS1 -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.
L&Q welcomes you to view this two bedroom, ground floor apartment.
The kitchen is fitted with grey wall and base units and a wood effect worktop. The kitchen also benefits from integrated appliances including a oven, hob and extractor fan. Both bedrooms are bright and airy. The bathroom comes complete with a white three-piece suite with a shower over bath and a stone tile surround. One storage cupboard in hallway. One allocated space and garage. Please note the ground rent is included within the service charge.
Ideally located for Gidea Park's Elizabeth Line, which takes you directly into the London, it also benefits from the A12, A127 and Romford's overground in the surrounding areas. Further a wide selection of local shops, schools, amenities and green spaces make this an well sought after property.
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 £47,782. 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.com and 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 August 2024.
Key Features
- Long term lease
- Great transport links
- Allocated Parking
- Good EPC rating
Particulars
Tenure: Leasehold
Lease Length: No lease length specified. Please contact provider.
Council Tax Band: D
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 50%, full price £285,000, £14,250 Min Deposit. Calculated using a representative rate of 4.59%
