2 bed Flat For Sale £182,500
Flat 1,, 7 New Inn Broadway, London

Shared Ownership

This superb home is available to buy from as little as £182,500 with a 25% share!

A beautiful ground floor apartment with industrial features throughout provides a large open plan living space, two double bedrooms and a modern bathroom. The property benefits from a long lease and no onward chain!

Located within the very heart of vibrant Shoreditch and adjacent to Hoxton, this property is just a short walk from the High Street and it’s many amenities. There are many pubs, restaurants and bars, coffee houses and vintage shops. Liverpool Street Station is just 0.5 mile away.

PRICING & AFFORDABILITY

Full Market Value: £730,000

25% Share Price: £182,500 (rent £863.27 pcm)
Minimum 5% Mortgage Deposit (25% share): £9,125
Approximate Service Charges: £345.87pcm*
Shared Ownership Lease: approx. 107 years
Council Tax Band: E

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 £730,000 and a purchaser would not need to meet the eligibility criteria listed above.