1 Bed Flat For Sale – London

Shared ownership (Advertised price represents 25% share. Full market value £330,000). Ceram Court is one of the rear (set back from the road) buildings within a substantial development located just to the north of Limehouse Cut. The property available is a well-proportioned one-bedroom apartment, on the ground floor, which has a private terrace facing trees and hedgerows. There is a 23’+, open-plan kitchen/reception room with sleek, white units and contrasting pencil-mosaic tiles. The bathroom features paler tiles in a matching style, the bedroom is spacious with a fitted wardrobe and useful, and additional storage has been provided in the entrance hallway. Well-insulated walls, modern double glazing and a communal heating system make for a good energy-efficiency rating. There are attractive communal areas and the development benefits from a concierge. Devons Road DLR is only a few minutes away and Bromley-by-Bow Station, for the District and Hammersmith & City Lines, is also within easy walking distance.

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: Clarion.
Tenure: Leasehold (130 years less 5 days from 01/01/2009).
Minimum Share: 25% (£82,500). The housing association will expect that you will purchase the largest share of affordable.
Shared Ownership Rent: £464.43 per month (subject to annual review).
Service Charge: £137.36 per month (subject to annual review).
Ground Rent: £200.00 for the year.
Guideline Minimum Income: Dual – £28,500 Single – £33,700 (based on minimum share and 10% deposit).
Council Tax: Band C, 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 carrying 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 are not permitted (except assistance animals). There is no parking space offered on 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 by 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 glass 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.

Ground Floor
Reception
23′ 9″ max. X 12′ 5″ max. (7.24m x 3.78m)
Kitchen
included in reception measurement
Bedroom
14′ 2″ x 9′ 1″ (4.32m x 2.77m)
Bathroom
Patio Garden
approximately 17′ 5″ x 8′ 6″ (5.31m x 2.59m)