1 bedroom apartment for sale

Shared Ownership

This brand new home is available to buy from as little as £107,500 for a 25% share!

L & Q at Alexandra Gate is a stunning collection of studio, 1, 2 and 3 bedroom Shared Ownership homes in a 12 acre city village that connects the incredible views of Alexandra Palace, with the family atmosphere and conservation areas of Hornsey and Wood Green. Alexandra Gate will bring an exciting mix of beautifully landscaped gardens, new business, retail and community spaces to an already special part of town.

This is your chance to own a stunning new Shared Ownership apartment at the heart of North London’s newest cultural quarter. These high-spec homes combines privacy with lively community, beautiful green space and an authentic London lifestyle, all just minutes from the centre of the city.

The development is built around nature, with a new park that helps connect the surrounding neighbourhoods, and plush green residential courtyards. Alexandra Palace has 196 acres of green space, Finsbury Park is nearby and Highgate Wood is a haven for walkers and runners. For fitness there are plenty of gyms, outdoor facilities in the parks and a local leisure centre, as well as plenty of routes to walk, run or cycle.

PRICING & AFFORDABILITY

Approximate Size 541 sq ft

Full Market Value: £430,000

25% Share Price: £107,500 (rent £376pcm)

Minimum 5% Mortgage Deposit (25% share): £5,375
Approximate Service Charges: £234pcm*
Shared Ownership Lease: 999 years
Council Tax Band: TBC

Please speak to our sales team for further information on share values and rent.

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

At Alexandra Gate you can buy a minimum 25% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not £90,000.
• You have a deposit of at least 5% of the share value.
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change.

*These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.