1 bed flat for sale

Royal Mint Street, London E1

Shared Ownership

This superb modern home is available to buy from as little as £372,500 with a 60% share! There is no rent payable on the remaining share of this property and no maximum earning restriction

This superb ground floor apartment is available to view. The bright and spacious accommodation consists of an entrance hall with built in storage, double bedroom, modern shower room, kitchen and a large reception room. There is a door to a wrap around private garden and this property also benefits from an allocated parking space.

The property is situated within a mixed commercial and established residential district on the border of the City of London, close to all comprehensive shopping and transport facilities, and a short walking distance away from the fashionable St. Katherine’s Dock and Tower Hill districts. All comprehensive transport and shopping facilities are available nearby.
Pricing & affordability


Full Market Value: £620,833

60% Share Price: £372,500 (no rent payable on remaining share)
Approximate Service Charges: £151.79 pcm*
Shared Ownership Lease: Approx. 89 years
Council Tax Band: C
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.

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

• There is no maximum earning restriction for this property
• 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.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.