2 bedroom apartment for sale
Oculus House, 16-48 Cambridge Road, IG11 8SR
Share percentage 35%, full price £370,000, £6,475 Min Deposit.
Share percentage 35%, full price £370,000, £6,475 Min Deposit.
Monthly Cost: £1,637
Rent £644,
Service charge £272,
Mortgage £721*
Calculated using a representative rate of 5.03%
Calculate estimated monthly costs
Summary
A 2 bed shared ownership property available in Barking, Barking and Dagenham
Description
Modern, beautifully presented two-bedroom apartment now available in Barking through Shared Ownership.
The property comprises a large open-plan lounge with a kitchen, space for a dining table, and doors to a private balcony; two large double bedrooms, a master ensuite bedroom with a built-in wardrobe.
The property also has a concierge service.
Key Information Document
Available for £129,500 for 35% share based on the marketing figure of £370,000.
Monthly rent - £644.19
Monthly Service Charge - £271.98
Total Monthly Charge - £916.17 plus mortgage required for 35% share.
An annual rent increase takes place every April
LocationThe property sits in the centre of Barking, East London, and is a couple of minutes walk from the train, overground and underground station.
Thanks to its location, it's very easy to commute to work: it's only 20 min to Canary Wharf and 30 min to Liverpool Street. The A406 nearby makes it also convenient to travel by car.
There's a shopping centre close to the building, with many shops, restaurants, and pubs, as well as parks such as Barking Park and Wanstead Flats.
EPC ratingEnergy rating band - B
Environmental impact band - A
Years remaining on lease: 242
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
- Two-bedroom apartment
- Private balcony
- Modern building (2020)
- Concierge service
- Available for 35% 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 35%, full price £370,000, £6,475 Min Deposit. Calculated using a representative rate of 5.03%
