1 bed flat for sale

Magnolia House, Wych Elm, Harlow CM20

Shared Ownership

This superb modern home is available to buy from as little as £168,750 with a 75% share!

Magnolia House - a wonderful 1 bedroom apartment located on the fifth floor (serviced by a lift) with a private south facing balcony. Located next to the town center this great flat comes equipped with contemporary fully-fitted kitchens with integrated appliances and composite worktops, sumptuous bathroom, fitted wardrobes to the main bedroom and high quality fitted flooring throughout with the added bonus of a private balcony. In addition, you will find a private, landscaped residents garden and parking that can be offered for an annual charge.

Harlow has been voted in the top 5 commuter towns for connection to London and it doesn’t come much easier for access with Harlow Town train station being located just under 1 mile away offering frequent and direct links to London Liverpool Street (32 minutes) and Cambridge (41 minutes) as well as a frequent bus service to Epping Underground Station offering links on the Central Line. If you would rather take the car, The Square benefits from excellent connections to the M11, M25, A10, A414 and A120.

Harlow plays host to a number of excellent leisure, entertainment, education and shopping facilities with The Harvey Centre and Water Gardens shopping centres located on your doorstep, both of which are home to a great selection of brand stores, boutique shops, restaurants and supermarkets. Offer with a 246 year lease remaining, 7 years to run on its NHBC certificate and a peppercorn ground rent!
Offered chain free!
Pricing & affordability


Full Market Value: £225,000

75% Share Price: £168,750 (rent £166.59 pcm)
Minimum 5% Mortgage Deposit (% share): £8437.50
Approximate Service Charges: £150 pcm*
Shared Ownership Lease: Approx. 246 years
Council Tax Band: D
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 £80,000
• 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 £225,000 and a purchaser would not need to meet the eligibility criteria listed above.