1 bedroom apartment for sale
Emma House, 2 Market Link, Romford, RM1 1XJ
Share percentage 35%, full price £215,000, £7,525 Min Deposit.
Share percentage 35%, full price £215,000
Monthly Cost: £953
Rent £356, Service charge £217, Mortgage £380*
Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
Summary
A Fantastic Opportunity to Purchase a One Bedroom Flat on a Shared Ownership (Part Buy/Part Rent) Basis
Description
A modern, one-bedroom apartment in the historic market town of Romford. The smartly-presented property is on the sixth floor and has a twenty-seven-foot, open-plan kitchen/reception room. A glazed door leads out onto a near-full-width balcony. There is a good-sized bedroom, a simple yet stylish bathroom and a pair of storage/utility cupboards have been provided in the entrance hallway. Well insulated walls, modern double glazing and gas central heating make for a very good energy-efficiency rating. Emma House is close to the main shopping district and only a short walk from Romford Station (for Elizabeth Line plus London Overground services). The attractive, green spaces of Raphael Park/Lodge Farm Park are within easy reach.
SHARED OWNERSHIP (Advertised price represents 35% share. Full market value £215,000).
INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ https://tinyurl.com/4k4yrf8a]
(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: A2Dominion.
Tenure: Leasehold (125 years from 16/11/2009).
Minimum Share: 35% (£75,250). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £355.50 per month (subject to annual review).
Service Charge: £216.51 per month (subject to annual review).
Water Charge: £27.78 per month (subject to annual review).
Guideline Minimum Income: Dual - £29,000 | Single - £34,000 (based on minimum share and 10% deposit).
Council Tax: Band C, London Borough of Havering. 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 to carry 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 not permitted (except assistance animals). There is no parking space offered with this property.
Key Features
- Guideline Minimum Deposit £7,525
- Guide Min Income Dual £29k | Single £34k
- Sixth Floor (building has a lift)
- Approx. 482 Sqft Gross Internal Area
- Open Plan Kitchen/Reception Room
- Very Good Energy Efficiency Rating
- Near-Full-Width Balcony
- Short Walk from Romford Station
Particulars
Tenure: Leasehold
Council Tax Band: C
Property Downloads
Floor Plan BrochureThe ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together, rent, service charge and mortgage.
- Rent: this is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes)
- Service Charge: covers maintenance costs for the property as a whole and communal areas
- Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.
NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.
Share percentage 35%, full price £215,000, £7,525 Min Deposit. Calculated using a representative rate of 4.59%
Calculate estimated monthly costs
