1 bed flat for sale

20 Tarling Street, 20 Tarling Street, London E1

Shared Ownership

This superb modern home is available to buy from as little as £142,000 with a 40% share!

Located in Shadwell on the second floor of this development built in 2006 is a stunning one bedroom apartment. The property is beautifully presented property provides spacious well planned accommodation comprising entrance hall, spacious open plan kitchen/living space with a Juliet balcony and a large bathroom. The property also benefits from a lease over 100 years.

Shadwell and the surrounding areas of Spitalfields, Whitechapel and Aldgate, provide a range of attractions and amenities including a variety of dining options, markets and outdoor spaces. The location also offers excellent train links with Shadwell Station providing underground and overground services to various parts of London. There are also many local bus services.
Pricing & affordability


Full Market Value: £355,000

40% Share Price: £142,000 (rent £503.47 pcm)
Minimum 5% Mortgage Deposit (40% share): £7,100
Approximate Service Charges: £268.42 pcm*
Shared Ownership Lease: Approx. 107 years
Council Tax Band: B
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:

• Your annual household income does not exceed £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.

*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.

** This home can also be purchased outright (100% of the value) which is £355,000 and a purchaser would not need to meet the eligibility criteria listed above.