3 bedroom apartment for sale

SHARED OWNERSHIP (Advertised price represents 25% share. Full market value £520,000). A rare chance to buy a three-bedroom, shared-ownership apartment. The smartly-presented property is on the second floor of a modern development just to the north of Limehouse Cut. Internal features include a semi-open-plan kitchen with sleek units and integrated appliances. A glazed door leads from the living area out onto an east-facing balcony which overlooks the attractive communal garden. There is a main bedroom with fitted wardrobe and en-suite shower room plus a generously-sized second bedroom, a third bedroom/home office and a stylish bathroom. A large storage/utility cupboard has been provided in the entrance hallway and well insulated walls, high performance glazing and a communal heating/hot water system make for a very good energy-efficiency rating. The development has a concierge and is just minutes from Devons Road DLR, convenient for access to Canary Wharf or Westfield Stratford. Bromley-by-Bow Station (District/Hammersmith & City Lines) is within easy walking distance, as are a range of shops, pubs and coffee shops. There are also a number of well-thought-of schools in the local area.

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ ]

(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: Peabody.
Tenure: Leasehold (125 years from 25/12/2016).
Minimum Share: 25% (£130,000).
Shared Ownership Rent: £1380.80 per month (subject to annual review).
Service Charge: £232.25 per month (subject to annual review).
Ground Rent: £450.00 for the year.
Guideline Minimum Income: Guide Dual Income £81.9k 10% deposit £13k | Guide Single Income £90k 25% deposit £32.5k

Council Tax: Band E, London Borough of Tower Hamlets. Priority is given to applicants living and/or working in this local authority.

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). There is no parking space offered with this property.

WHAT IS SHARED OWNERSHIP ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and Homes England outside of London.

IS SHARED OWNERSHIP FOR YOU ?

The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.